Yet one industrialized country resists the trend: America. True, the American fertility rate has also fallen in recent decades. But it has surged of late and now stands at population-replacement level, about 2.07 children per woman. That reality has led to projections of vigorous U.S. economic growth in the next half-century. What’s behind the relative fecundity? A good guess is American-style free-market capitalism, which (despite recent economic woes) encourages long-term optimism, taxes less of parents’ income, and affords them easier mobility into and out of the job market than they’d find in more regulated economies.
Our Vanishing Ultimate Resource by Steven Malanga, City Journal Winter 2010
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