Why the Rich World is Dying and How to Save It

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SOURCES:
I've linked my other sources in the blog that goes along with this video. Links are in the text.

Timestamps:
0:00 - introduction
1:37 - income and fertility
7:57 - ultra low fertility countries
16:57 - solution

Narrated and produced by Dr. Joeri Schasfoort
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I'm from Uzbekistan, we don't have any problems regarding reproduction. People get married early and have kids. The problem is that parents don't really consider or think about future of the kids like education or housing. Our parents' retirement plan is us, meaning kids. I myself came to South korea to study but I had to quit cuz of financial difficulties. There you go, rich people have 1 child, educated and provided. Poor people have 5 broke-ass kids and they will work for rich kids.

untitledmixture
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the cost of property is a major factor. the idea of having a family where 1 parent looks after the children full time seems lavish today.

mrrolandlawrence
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Another social norm in many Mexican families is that the grandparents help out with childcare. My grandparents (and their siblings) took care of me and my cousins after school when we were little. Which kept our parents from having to pay for child care until we started getting hobbies. Social norms extend beyond just the immediate family in some cultures.

thetrainhopper
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As a dutchy (almost 30 now)
I'm well educated (university) and when the issue of children comes up the number 1 thing I always hear is that they would if they could own a house.
If pressed on the matter, it's about the monthly expenses and space availability. Rent is just crushingly high, owning a house would be cheaper. Plus most rentals are tiny, raising children in them is unappealing.

My parents are sitting on a large house, and they want to sell, but new tiny appartments cost the same as what they (think) they can sell their current home form, so they do not sell, and thus teh next generation can't get a nice big house.

Housing seems to me to be an absolute factor, we have treated it like investment property and to make sure the price keeps going up, we stopped building nearly enough nice houses.

unfairlive
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Damn, this is dedication: having a baby, living with them for some years and then making a video about fertility rates.
I'm joking, excellent video as usual!

blakedake
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Lol. Every time an economist asks me that question I return the question back at them. “ why aren’t you and your spouse having 3-4-5 kids? “. 😂

mrparts
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As an Indian I have seen this happen first hand. My great grandfather had 13 children, my grandfather has 5 and am the only child of my parents. As India as gotten richer the number of children families have has drastically reduced.

allenpradhan
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The issue is that kids take time and a secure home, the same things young people struggle to find for themselves. Unless we give young people more time (e.g. 4 day work week, longer parental leaves, easier access to childcare, etc.) and a secure nest (an affordable home, job security, decent salary, etc.) these societies are simply going to destroy themselves. No matter how many immigrants you want to bring to a country with a failing social model... because, if they properly integrate, they'll just have a similar birthrate after 1-2 generations. And if they don't integrate and continue having too many kids... then you have big social problems that make people *not* have kids.

SystemBD
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Condoms and birth control changed everything. I don't think people necessarily wanted to have a lot of kids in the past. It was just a lot harder to prevent. People got horny, had sex, and accidents happened. Now it's much easier to prevent unplanned children.

juddyyoutube
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Child on a poor farm for centuries: An investment that will start to pay off as soon as halfway grown up, save retirement plan
Child in a modern urban society: A liability that costs money, time and nerves

Bleifuss
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Living in japan for quite a while as a european i can tell you their approach to this problem is - non existing. Its a fricking nursery home and having even birth is extremely expensive let alone all the expenses down the road. Zero support from government they are busy making sure everything is great for corporate and elderly - since elderly are their voter base. Everywhere.
Atrocious, really. No work/life balance also doesn't help. They are dying out and they did it to themselves.

bealotcoolerifyoudid
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When traveling in the Austrian Alps I noticed how three generations live in a single farmstead. Grandparents would raise the grandchildren, where the parents would work. This seems to be a hybrid between the poor economy / rich economy model explained in this video. Personally I am rather charmed by this model, although it will probably not survive modern developments.

superhans
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This may be a US-only perspective, or just something within my own friend group. But when it comes to childcare, I notice a difference in generations from my own experience. When I was growing up, my parents relied on my grandparents for childcare. Both sets. Full stop. What I have noticed now is that for those in my age group who are having kids, grandparents aren't as available. The grandparents are still working, or they are busy with their own lives. So that free resource isn't there anymore.

brighthope
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Cost of life is the real issue. As a Canadian about to enter the job market I have no clue how I'm expected to ever be able to afford a house and two whole children, even if I get married and split costs.

todo
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I'm Spanish and I can say that most people here don't have kids due to economical reasons. Housing unavailability and not being able to keep a home with one income are the main ones.

You just can't expect youngsters living in a room to start building families.

baron_mijail
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My largest issue with this topic is why it's even considered a problem in the first place. The human population can't grow exponentially forever, it's an inevitability that we'd decrease in population at some point in time. Increasing forever without end is unsustainable, this is just the natural course of things taking route.

davidmays
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I think a strong reason why East Asian and Southern European countries don't invest as much in childcare facilities is because they tend to have some of the highest life expectancies in the world, leading to elder care facilities being a more pressing matter. Also the social norms of these two cultures expect grandparents to play a MUCH more active role in childcare. Higher life expectancy means more healthy grandparents, which means less demand for institutional childcare programs, which means less government investment in such programs.

myowncomputerstuff
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I live in a poor region in Italy where the fertility rate per woman is close to 0
While I believe this can be attributed also to the mentality of some people who simply do not wish to raise a child, the main issue is that here young people simply can't find a job neither afford an house for themselves. I know people who already in their 50's are still paying the loan for the house they live in and generally young people still live with their parents in their 30's or just move abroad.
Yesterday I was talking to a friend that suggested building more houses could make them more affordable as their price would decrease but I am not totally convinced, especially because with the extreme levels of bureaucracy and taxation there is very little incentive for entrepreneurship.

casteddu
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A point to note is that India's fertility rate is 2.1 which is barely at the replacement level. And it is expected to go even further down as people have stopped marrying and having kids. The population of India will continue to rise as fewer people are dying due to an increase in life expectancy but after some decades India will witness a colossal decline in population once the boomers, Generation X, and millennials begin to die. For example - I am a single child to my parents and I am still unmarried (30M) and I have no plans to get married and have kids in the future.

aditya-mlkm
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I’m turning 30 this year, and I’m still wondering how I can afford to have children. Both my partner and I are middle-class income earners. Our student loan debt accounts for 10% of our total wages, 40% goes towards mortgage and auto loans. Grocery prices have increased by 20%. It may seem like we have 30% left, but unfortunately, we always need to pay for unexpected expenses like car repairs and house maintenance. I’m living paycheck to paycheck with no savings, and i don’t want my children to experience the same financial situation as we’re currently facing.

khyeli