Question

compare and contrast between the Ramsay model for the central planer and the solow model for economics growth and diagram and it's interperation

Answer 1

The Ramsey–Cass–Koopmans model, or Ramsey growth model, is a neoclassical model of economic growth based primarily on the work of Frank P. Ramsey, with significant extensions by David Cass and Tjalling Koopmans. The Ramsey–Cass–Koopmans model differs from the Solow–Swan model in ... Originally Ramsey set out the model as a central planner's problem o