"Peak population is coming for all of us. Sensible measures can respond to the strains imposed by smaller families, but cultural norms matter as much as policy outcomes. While Federal Reserve Chair Jerome Powell was undoubtedly the main attraction at Jackson Hole, there were other weighty issues on the table. The role of men and societal values in declining fertility was among them. Nobel laureate Claudia Goldin told the Fed's conference in Wyoming that it's important not to overlook tradition when explaining low fertility."
"There are sound reasons to pay attention. In most of the world, birthrates are dwindling. In developed countries and in some major emerging markets, the total fertility rate, roughly defined as the number of children a woman will bear in her lifetime, has slipped below 2.1. That's generally recognized as the level required for a population to replenish itself. South Korea, Japan and China get headlines, though many United Nations members are below this marker."
Global birthrates are falling, with total fertility rates below the 2.1 replacement threshold in many developed and emerging countries. Population aging and longer lifespans increase pressure on public budgets, safety nets, prices and GDP. State incentives to boost fertility have often produced limited effects, as illustrated by persistent low TFRs in some successful nations. Couples decide about children based on child-rearing costs, personal priorities and social values. The roles of fathers and prevailing cultural norms shape fertility outcomes alongside economic incentives. Sensible policies can mitigate some strains, but cultural change matters as much as policy.
Read at www.mercurynews.com
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