Have More Babies Or Civilization Dies, Elon Musk Pontificates

Elon Musk recently said the declining birth rate is one of the biggest risks to civilization. Experts have worried that the pandemic "baby bust" could result in an aging population without enough workers, Hillary Hoffower and Marguerite Ward reported for Business Insider.

Photo Insert: Tesla CEO and founder Elon Musk during a company open-mic Q&A

Nonetheless, he mused, with the right structural changes, fewer children and higher productivity could be a new chapter for the economy. In Musk’s eyes, one of the greatest threats to civilization is that people aren't having enough babies.

Tesla CEO Elon Musk said at the Wall Street Journal's annual CEO Council that there aren't enough people. "I think one of the biggest risks to civilization is the low birth rate and the rapidly declining birth rate," he said.

He continued: "And yet, so many people, including smart people, think that there are too many people in the world and think that the population is growing out of control. It's completely the opposite. Please look at the numbers — if people don't have more children, civilization is going to crumble, mark my words."

Musk is referring to the pandemic "baby bust." A CDC report from earlier this year found that the US birth rate fell by 4% from 2019 to 2020, the sharpest single-year decline in nearly 50 years and the lowest number of births since 1979.

Declining birth rates during economic downturns are typical, as people tend to put off having kids during periods of political and social unrest.

But last year's recession was coupled with a global health crisis, leaving demographers debating whether the current drop will prove to be a temporary or permanent phenomenon: Will women will end up having babies at a later date or have fewer babies overall?

Some, like Musk, aren't hopeful. One demographer deemed the trend a "crisis" in an interview with CBS, while another demographer told CNN the baby bust could have a big impact on economic activity in the future.

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