Here are the basics, if you’re not up to speed. Replacement rate is 2.1 children per female. Most of the industrialized countries in the world (and also many of the less advanced countries as well) have below replacement levels. The US   
I reread an article recently (it’s from United Families International, from May 2010) that did the math, using Greece Greece   
Generation 1               11,237,094 – 3,745,698 = 7.491,396
Generation 2                 7,491,396 – 2,497,132 = 4,994,264
Generation 3                 4,994,264 – 1,664,755 – 3, 329,509  
So in a little over half a century the population is likely to declined to under 30% of it’s current population. Without disease or war. Voluntarily.  
The cutoff seems to be a fertility rate of 1.4. In the history of the world, no population has ever recovered once hitting that level. Right now the following are at, near, or below that level:  
Japan                          1.27
Czech Rep.                 1.24
There’s a graphic I need to show you, about how this involves economics. [I'm using my trusty white board, just like homeschool.] The population as a whole consists of producers and nonproducers. Typically these are related to generation. Children are nonproducers that must be supported by producers. The elderly and infirm are nonproducers that must be supported by producers insofar as they can’t support themselves from income left over from their producing period. 
A healthy growing population is shaped like the diagram below. Producers are plentiful to take care of the elderly, and there are enough children to replace the producers as they age.
But the typical population shape for a declining population looks like this below. The elderly is the most sizable demographic. Producers are hard-pressed to take care of them. And the even smaller population of children is going to find it even harder to take care of not only themselves but that growing aging population.
A friend of mine who has been involved in family issues worldwide since the mid-1990s first let me know about this issue. He was with his family on a trip to Italy   
So is the problem likely to solve itself when people wake up and realize they have a problem and then start having more children? Historically no.   
One of the hallmarks of a thriving civilization is valuing the family and prizing children. If that is not where we are, then we need to change—before it’s too late.
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