A population decline doesn't lead to a race to the bottom. Less people means the economic output is likely to shrink in absolute terms, but it doesn't have to

A population decline doesn't lead to a race to the bottom. Less people means the economic output is likely to shrink in absolute terms, but it doesn't have to shrink in per capita terms. On the other hand, less pressure on natural resources, less pollution and less people overall makes arguably a nicer environment to live in.