Question: In the Ramsey model, the family utility function uses the discount rate e^-t. But I didnt figure out why I need to discount to the

In the Ramsey model, the family utility function uses the discount rate e^-t.

But I didnt figure out why I need to discount to the first period? And when this model later considered the S period, it was also discounted to the first period. Why must it be discounted to the first period?

Thank you for your answer!

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