Plummeting birthrates threaten prosperity worldwide

City Journal: “Economists are increasingly recognizing that the struggles of places like Japan and Italy to extricate themselves from economic slumps that began in the 1990s result in part from extreme “birth dearths” that have shrunk labor pools, dried up consumer spending, and made businesses, staffed by older employees, more risk-averse. Decades of government efforts to reverse birth dearth have largely proved fruitless. Yet one industrialized country resists the trend: America.”