Declining fertility rates were considered good for multiple reasons: * It's associated with lower infant/youth mortality rates (people have less children when

Declining fertility rates were considered good for multiple reasons: * It's associated with lower infant/youth mortality rates (people have less children when they know each will survive) * It's associated with higher per-person productivity and industrialization (it makes sense to have several children helping you on a farm, but with industrialization it makes more sense to send 1-2 to college) Declining birth rates are not "a sign of distress". Assuming ideal conditions, fertility would float around the value we see in highly developed nations. However, this is a problem economically, because our economy is built on indefinite growth and the idea that the younger generations financially support the elderly. With too few youth and too many elderly, the system collapses. The economic problems will work out eventually, but it is going to suck financially for many until things stabilize.