Marriage, Kids...and Economics

I am intrigued by how increasingly hilarious and weird what I am interested in economics is beginning to get. One of the few things in macroeconomics (tada, you have figured out that I like macroeconomics) is different models that explain the growth of an economy (if you are already bored, then your loss :D ). I hate to make this post a lecture about the two models I am currently smiling about, but you will see the irony in those models. Needless to say, the models take into consideration a lot of assumptions. Duh- economics, as I define it, is the science of assumptions.

The RAMSEY MODEL is a highly dynamic model that explains the growth in the economy with phase plots; how consumption and capital increases/decreases . A little bit of a background- Ramsey came up with this model when he was in his 20s and died 2 years after he proposed the model. What were his assumptions- people live infinitely and are alive at the same time; as in your kids, their kids and successive generations will never move out and you end up being the ruler of the family for eternity . Irony- the model was proposed by someone who didn't believe in the infinite life himself. Wow! The OVERLAPPING GENERATIONS MODEL also models consumption and capital growth but its assumptions are different- that you will die (oops) and that your kids will move out. Even better, is that you will live for two periods, hence never living to see your grandkids. If you haven't noticed yet, death is an assumption. Aa the metaphysical connotations are immense, and I don't think I have the strength to point them out.

Here is where its the pinnacle of weirdness (and thanks to Dr.Vollrath for having pointed it out)- what do you choose?

1. The Ramsey model- where you live infinitely, but your kids never move out, heck their kids never move out either?
   

OR

2. The OLG model- where you die, but your kids move out?

Tough choice! If only I had one... Which brings me to my observation- how having kids, and ahem getting married, are actually influenced by these two models :D, especially for economists :D