We need more dads than duds to fix the global baby shortage

Claudia Goldin argues that fertility depends on dependable dads

- DANIEL MOSS

Peak population is coming for all of us. Sensible measures can respond to the strains imposed by smaller families, but cultural norms matter as much as policy outcomes. While Federal Reserve Chair Jerome Powell was undoubtedly the main attraction at Jackson Hole, there were other weighty issues on the table. The role of men and societal values in declining fertility was among them. Nobel laureate Claudia Goldin told the Fed's conference that it's important not to overlook tradition when explaining low fertility, and when governments canvas ways to revive it.

There are reasons to pay attention. In most of the world, birth rates are dwindling. In developed countries and some major emerging markets, the total fertility rate, roughly defined as the number of children a woman will bear in her lifetime, has slipped below 2.1. That's generally recognized as the level required for a population to replenish itself. South Korea, Japan and China get headlines, though many UN members are below this marker.