  In Ramsey Mark III, \(K(0)\) is given as an inheritance from the past. That means \(F_{K(0)}\) is given as an initial condition, it is not a choice for the DM at \(t = 0\). Moreover \(\delta\) and \(\sigma\) are parameters, both reflecting ethical values. The DM can therefore determine \(g(C(0))\) from equation (10). But that’s the optimum percentage rate of growth in consumption at the initial date. The Ramsey Rule gives the DM an equation for determining the initial growth rate of consumption, but it does not say what the initial level of consumption ought to be. Below we show by way of an example that there are an infinity of feasible consumption paths satisfying the Ramsey Rule. It follows that the DM at \(t = 0\) needs a further condition to determine \(C^*(0)\).