Consider a Ramsey model in which the social planner weighs future consumption according to the number of people who will be alive in the following manner. The social planner wants to maximize U=0etu(C(t))L(t)dt,u(C(t))=1C(t)1, where 00. There is no technological progress and the depreciation rate is zero. The production function is Cobb-Douglas, i.e. y=k with 00. There is no technological progress and the depreciation rate is zero. The production function is Cobb-Douglas, i.e. y=k with 0