Control of single-sector economy over a finite time interval with allowance for employer consumption

The problem of optimal control of a single-sector economics over a finite time interval was studied for the class of the linear uniform production functions in terms of the criterion for maximum employer consumption under exponential growth of the manpower resources. Solution was obtained in the form of the “turnpike theorem”. Its properties were considered. The results obtained were specified for the case of the Cobb–Douglas production function.