The economic argument is oversold. Poor people have kids more than any other demographic.

Smartphones are why we don't have kids.

Unlimited dopamine is why we don't have kids.

The internet is why we don't have kids.

Women like having fun and independence and don't want to be stay at home nannies.

Modern life is TOO FUN.

Fun is why there are no more babies.

Babies are not fun.

Babies are what you do in the 1950's when you're bored out of your mind with nothing to do.

Babies are what you do when you have to wait until next week for your Reader's Digest to arrive in the mail.

Babies are the anti-dopamine.

For the first time in history, we're not bored out of our fucking minds 24/7. Our brains are fully occupied.

There isn't space for babies now that we have the internet.

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Thought experiment: if you had five million dollars extra right now, would you have a kid tonight?

The answer is probably "fuck no".

And you know why.

Look at the countries still having kids - they're mostly places where women don't have equal rights and smartphone / internet penetration is low.