which is very similar to the Modified Golden Rule we obtained in the Infinite Horizon model of Cass (1965), we the difference being replacing the private discount rate ρ with the social discount rate R. This being unsurprising since there is no reason to believe that the social planner’s discount rate would equate with the private one. There is no difference between the private choice and social planner’s choice in the Infinite Horizon model of Cass (1965) because each individual is infinitely lived. Whereas in the current setting, because each individual lives for only 2 periods, there is the selfish individual does not consider his choices on future generations. Finally, if the social planner weights each generation equally, so that R = 0, we obtain the Golden Rule of Solow (1956)