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“My first and biggest wish is that we had known early that Covid-19 was airborne,”

, “Once you’ve realized that, it informs an entirely different strategy for protection.” Masking, ventilation and air cleaning become key, as well as avoiding high-risk encounters with strangers, he says.

Instead of washing our produce and wearing hand-sewn cloth masks, we could have made sure to avoid superspreader events and worn more-effective N95 masks or their equivalent. “We could have made more of an effort to develop and distribute N95s to everyone,” says Dr. Volckens. “We could have had an Operation Warp Speed for masks.”

We didn’t realize how important clear, straight talk would be to maintaining public trust. If we had, we could have explained the biological nature of a virus and warned that Covid-19 would change in unpredictable ways.  

In the face of a pandemic, he says, the public needs an early basic and blunt lesson in virology

“The science is really important, but if you don’t get the trust and communication right, it can only take you so far,”

and mutates, and since we’ve never seen this particular virus before, we will need to take unprecedented actions and we will make mistakes, he says.

Since the public wasn’t prepared, “people weren’t able to pivot when the knowledge changed,”

By the time the vaccines became available, public trust had been eroded by myriad contradictory messages—about the usefulness of masks, the ways in which the virus could be spread, and whether the virus would have an end date.

, the absence of a single, trusted source of clear information meant that many people gave up on trying to stay current or dismissed the different points of advice as partisan and untrustworthy.

We didn’t know how difficult it would be to get the basic data needed to make good public-health and medical decisions. If we’d had the data, we could have more effectively allocated scarce resources

For much of the pandemic, doctors, epidemiologists, and state and local governments had no way to find out in real time how many people were contracting Covid-19, getting hospitalized and dying

Doctors didn’t know what medicines worked. Governors and mayors didn’t have the information they needed to know whether to require masks. School officials lacked the information needed to know whether it was safe to open schools.

people didn’t know whether it was OK to visit elderly relatives or go to a dinner party.

just months before the outbreak of the pandemic, the Council of State and Territorial Epidemiologists released a white paper detailing the urgent need to modernize the nation’s public-health system still reliant on manual data collection methods—paper records, phone calls, spreadsheets and faxes.

While the U.K. and Israel were collecting and disseminating Covid case data promptly, in the U.S. the CDC couldn’t. It didn’t have a centralized health-data collection system like those countries did, but rather relied on voluntary reporting by underfunded state and local public-health systems and hospitals.

doctors and scientists say they had to depend on information from Israel, the U.K. and South Africa to understand the nature of new variants and the effectiveness of treatments and vaccines. They relied heavily on private data collection efforts such as a dashboard at Johns Hopkins University’s Coronavirus Resource Center that tallied cases, deaths and vaccine rates globally.

With good data, Dr. Ranney says, she could have better managed staffing and taken steps to alleviate the strain on doctors and nurses by arranging child care for them.

To solve the data problem, Dr. Ranney says, we need to build a public-health system that can collect and disseminate data and acts like an electrical grid. The power company sees a storm coming and lines up repair crews.

If we’d known how damaging lockdowns would be to mental health, physical health and the economy, we could have taken a more strategic approach to closing businesses and keeping people at home.

t many doctors say they were crucial at the start of the pandemic to give doctors and hospitals a chance to figure out how to accommodate and treat the avalanche of very sick patients.

The measures reduced deaths, according to many studies—but at a steep cost.

The lockdowns didn’t have to be so harmful, some scientists say. They could have been more carefully tailored to protect the most vulnerable, such as those in nursing homes and retirement communities, and to minimize widespread disruption.

Lockdowns could, during Covid-19 surges, close places such as bars and restaurants where the virus is most likely to spread, while allowing other businesses to stay open with safety precautions like masking and ventilation in place.  

If England’s March 23, 2020, lockdown had begun one week earlier, the measure would have nearly halved the estimated 48,600 deaths in the first wave of England’s pandemic

If the lockdown had begun a week later, deaths in the same period would have more than doubled

The key isn’t to have the lockdowns last a long time, but that they are deployed earlier,

It is possible to avoid lockdowns altogether. Taiwan, South Korea and Hong Kong—all countries experienced at handling disease outbreaks such as SARS in 2003 and MERS—avoided lockdowns by widespread masking, tracking the spread of the virus through testing and contact tracing and quarantining infected individuals.

Had we known that even a mild case of Covid-19 could result in long Covid and other serious chronic health problems, we might have calculated our own personal risk differently and taken more care.

Early in the pandemic, public-health officials were clear: The people at increased risk for severe Covid-19 illness were older, immunocompromised, had chronic kidney disease, Type 2 diabetes or serious heart conditions

t had the unfortunate effect of giving a false sense of security to people who weren’t in those high-risk categories. Once case rates dropped, vaccines became available and fear of the virus wore off, many people let their guard down, ditching masks, spending time in crowded indoor places.

it has become clear that even people with mild cases of Covid-19 can develop long-term serious and debilitating diseases. Long Covid, whose symptoms include months of persistent fatigue, shortness of breath, muscle aches and brain fog, hasn’t been the virus’s only nasty surprise

In February 2022, a study found that, for at least a year, people who had Covid-19 had a substantially increased risk of heart disease—even people who were younger and had not been hospitalized

respiratory conditions.

Some scientists now suspect that Covid-19 might be capable of affecting nearly every organ system in the body. It may play a role in the activation of dormant viruses and latent autoimmune conditions people didn’t know they had

 A blood test, he says, would tell people if they are at higher risk of long Covid and whether they should have antivirals on hand to take right away should they contract Covid-19.

If the risks of long Covid had been known, would people have reacted differently, especially given the confusion over masks and lockdowns and variants? Perhaps. At the least, many people might not have assumed they were out of the woods just because they didn’t have any of the risk factors.

“AI is the next revolution and there is no going back,”

“There is an enormous demand for people who are tech-savvy and who will be the first adopters, who will be the first to figure out what opportunities these technologies open up,”

“Every month there are hundreds more job postings mentioning generative AI,”

“The way things have been done in the past aren’t necessarily the way they need to be done today,” he said, adding that workers and employers should invest in retraining and upskilling where possible.

that transformation is already taking shape, and workers can find ways to use the ChatGPT and other new technology to free them from boring work.

The jobs of the future will require a mind-set shift for employees, several executives said. Rather than viewing generative AI and other machine-learning software as a threat, workers should embrace new technology as a way to free them from less-rewarding work and augment their strengths.

“This is a huge opportunity to advance a lot of professions—allow people to do work that’s, frankly, more stimulating.”

For the hotel chain, that could look like using AI to determine which brand of wine a guest likes, and adjusting recommendations accordingly.

United Airlines Holdings Inc., aims to use AI to do transactions that shouldn’t require a human, such as placing someone in an aisle or window seat depending on their preference, or suggesting a different flight for someone trying to book a tight connection, said Kate Gebo, executive vice president of human resources and labor relations. That leaves employees free to have more complex interactions with customers

services intended to help customers solve emotional problems require solutions a machine can’t provide.

“AI is not sentient. It can’t be emotional. And that is the kind of accountability and reciprocity that is needed…for people to have the outcomes that we’re hoping to provide,”

“Certain business processes could be enhanced,” said Carmen Orr, Yelp’s chief people officer, adding that there are plenty of concerns, too. “We don’t want it for high human-touch things.”

That’s no accident. In the three decades since the end of the Soviet Union, those men have faced industrial collapse, the disappearance of millions of jobs and declining life expectancy. The war promises to change that downward trajectory, transforming the losers of the past three decades into new heroes

For many Russian men and their families, the war may be a horror. But it’s also the last opportunity to fix their lives.

First, there’s the money. The federal base salary for a soldier is about $2,500 a month, with payment of $39,000 for wounding and up to $65,000 in the case of death. Compared with a median monthly salary of $545, this is a handsome reward — even more so for the approximately 15.3 million Russians living below the poverty line.

there’s much more on offer, too. For those coming back from the front, the state promises fast-tracked entry into civil service jobs, health insurance, free public transportation, as well as free university education and free food at school for their children. And for those who were imprisoned and joined the Wagner private military company, the state grants freedom.

Today’s soldiers live in the shadows of the generation that won the war against Nazism. In Russian public culture, no honor is higher than to be a veteran of the “Great Patriotic War,” something the regime has capitalized on by framing today’s war as a kind of historical re-enactment of World War II.

As one soldier wrote on Telegram in February, the war confers “a sense of belonging to the great male deed, the deed of defending our Motherland.”

By allowing men to escape the difficulties of everyday life — with its low pay and routine frustrations — the war offers a restoration of male self-worth. These men, at last, matter.

Feelings of inferiority, too, are swept aside in the fraternal atmosphere of the front. “It doesn’t matter who you are, how you look,” as one soldier put it. In the communal life of conflict, many of the distinctions of civilian life dissolve. War is an equalizer.

Mistrust of the rich, belief that sanctions actually strengthen the economy and disdain for émigrés all attest to a class-based experience of the conflict. By participating in the war, millions of Russians at the bottom of the social ladder can emerge as the country’s true heroes, ready for the ultimate sacrifice. The risk may be grave and the financial reward uncertain. But the chance to rise in esteem and respect makes the effort worthwhile.

The longer the war drags on, bringing more casualties, loss and broken promises, the harder it may become to sustain such levels of acceptance

it may not. Collective emotional turmoil could deepen the feeling that the war must be won, no matter what. In the absence of an alternative vision of the future, Vladimir Putin and his war will continue to hold sway.

What specific things, besides stopping industrial espionage, could China do to increase trust? Giving American companies, financial institutions, more opportunities to make money, opening up its various sectors more aggressively — that will allow more dialogue, more cooperation

That’s one thing. Second, it’s understandable for the United States to push back on some of the industrial espionage.

What are the biggest blind spots the Chinese leadership has when it comes to understanding American policies toward the country? I think the Chinese leaders have this notion that the United States is doing everything it can to try to stop China from growing. Or they believe that whatever China does is not going to elicit more trust.

the leadership is convinced that there’s no way out of this. I’m not sure that is the case. And then also, the United States thinks that China wants to displace it.

That “despite” is doing a lot of work. It reminds me of that line, “Other than that, how was the play, Mrs. Lincoln?” I was trying to say that those are all things that we believe to be essential for sustained economic growth. I was saying that despite all that, China still performed well.

you also write about in the book: “Despite the limits China imposes on free-market forces, the absence of a free press, independent judicial system and the individual right to vote, we see there are other mechanisms in place to respond to the needs of its citizens and to address the threats posed by inequality.”

For decades — and particularly since the 2008 recession — politicians in both parties have mounted a strident campaign against government funding for the liberal arts. They express a growing disdain for any courses not explicitly tailored to the job market and outright contempt for the role the liberal arts-focused university has played in American society.

Former Gov. Scott Walker’s assault on higher education in Wisconsin formed the bedrock of many later conservative attacks. His work severely undermined a state university system that was once globally admired. Mr. Walker reportedly attempted to cut phrases like “the search for truth” and “public service” — as well as a call to improve “the human condition” — from the University of Wisconsin’s official mission statement

But blue states also regularly cut higher education funding, sometimes with similar rationales. In 2016, Matt Bevin, the Republican governor of Kentucky at the time, suggested that students majoring in the humanities shouldn’t receive state funding. The current secretary of education, Miguel Cardona, a Democrat, seems to barely disagree. “Every student should have access to an education that aligns with industry demands and evolves to meet the demands of tomorrow’s global work force,” he wrote in December.

Federal funding reflects those priorities. The National Endowment for the Humanities’ budget in 2022 was just $180 million. The National Science Foundation’s budget was about 50 times greater, having nearly doubled within two decades.

What were students meant to think? As the cost of higher education rose, substantially outpacing inflation since 1990, students followed funding — and what politicians repeatedly said about employability — into fields like business and computer science. Even majors in mathematics were hit by the focus on employability.

Universities took note and began culling. One recent study showed that history faculty across 28 Midwestern universities had dropped by almost 30 percent in roughly the past decade. Classics programs, including the only one at a historically Black college, were often simply eliminated.

Higher education, with broad study in the liberal arts, is meant to create not merely good workers but good citizens

this is a grim and narrow view of the purpose of higher education, merely as a tool to train workers as replaceable cogs in America’s economic machine, to generate raw material for its largest companies.

Citizens with knowledge of their history and culture are better equipped to lead and participate in a democratic society; learning in many different forms of knowledge teaches the humility necessary to accept other points of view in a pluralistic and increasingly globalized society.

In 1947, a presidential commission bemoaned an education system where a student “may have gained technical or professional training” while being “only incidentally, if at all, made ready for performing his duties as a man, a parent and a citizen.” The report recommended funding to give as many Americans as possible the sort of education that would “give to the student the values, attitudes, knowledge and skills that will equip him to live rightly and well in a free society,” which is to say the liberal arts as traditionally understood. The funding followed.

The report is true today, too

the American higher education system is returning to what it once was: liberal arts finishing schools for the wealthy and privileged, and vocational training for the rest.

Reversing this decline requires a concerted effort by both government and educational actors

renewed funding for the liberal arts — and especially the humanities — would support beleaguered departments and show students that this study is valuable and valued.

At the university level, instituting general education requirements would guarantee that even students whose majors have nothing to do with the humanities emerged from college equipped to think deeply and critically across disciplines.

Liberal arts professors must also be willing to leave their crumbling ivory towers and the parochial debates about their own career path, in order to engage directly in public life

Tesla’s net favorability rating among Republicans has improved slightly, to 27 percentage points in November from 21 percentage points in August,

Nearly half of Germans who are contemplating or actively looking to buy a new car said the Twitter takeover had turned them away from considering a Tesla

Tesla’s sales in China through November were 59 percent higher than a year earlier, according to data from the China Passenger Car Association, but that was slower than overall growth of “new energy vehicles” — a category that includes all-electric cars and plug-in hybrids. Sales of these vehicle have doubled, while BYD, the market leader, increased its sales more than threefold

a “builder class”—a brains trust of youngish idealists, which includes Patrick Collison, co-founder of Stripe, a payments firm valued at $74bn, and other (mostly white and male) techies, who are posing questions that go far beyond the usual interests of Silicon Valley’s titans. They include the future of man and machine, the constraints on economic growth, and the nature of government.

They share other similarities. Business provided them with their clout, but doesn’t seem to satisfy their ambition

The number of techno-billionaires in America (Mr Collison included) has more than doubled in a decade.

ome of them, like the Medicis in medieval Florence, are keen to use their money to bankroll the intellectual ferment

The other is Paul Graham, co-founder of Y Combinator, a startup accelerator, whose essays on everything from cities to politics are considered required reading on tech campuses.

Mr Altman puts it more optimistically: “The iPhone and cloud computing enabled a Cambrian explosion of new technology. Some things went right and some went wrong. But one thing that went weirdly right is a lot of people got rich and said ‘OK, now what?’”

A belief that with money and brains they can reboot social progress is the essence of this new mindset, making it resolutely upbeat

The question is: are the rest of them further evidence of the tech industry’s hubristic decadence? Or do they reflect the start of a welcome capacity for renewal?

Two well-known entrepreneurs from that era provided the intellectual seed capital for some of today’s techno nerds.

Mr Thiel, a would-be libertarian philosopher and investor

This cohort of eggheads starts from common ground: frustration with what they see as sluggish progress in the world around them.

In the 2000s Mr Thiel supported the emergence of a small community of online bloggers, self-named the “rationalists”, who were focused on removing cognitive biases from thinking (Mr Thiel has since distanced himself). That intellectual heritage dates even further back, to “cypherpunks”, who noodled about cryptography, as well as “extropians”, who believed in improving the human condition through life extensions

the rationalist movement has hit the mainstream. The result is a fascination with big ideas that its advocates believe goes beyond simply rose-tinted tech utopianism

A burgeoning example of this is “progress studies”, a movement that Mr Collison and Tyler Cowen, an economist and seer of the tech set, advocated for in an article in the Atlantic in 2019

Progress, they think, is a combination of economic, technological and cultural advancement—and deserves its own field of study

There are other examples of this expansive worldview. In an essay in 2021 Mr Altman set out a vision that he called “Moore’s Law for Everything”, based on similar logic to the semiconductor revolution. In it, he predicted that smart machines, building ever smarter replacements, would in the coming decades outcompete humans for work. This would create phenomenal wealth for some, obliterate wages for others, and require a vast overhaul of taxation and redistribution

His two bets, on OpenAI and nuclear fusion, have become fashionable of late—the former’s chatbot, ChatGPT, is all the rage. He has invested $375m in Helion, a company that aims to build a fusion reactor.

Mr Lonsdale, who shares a libertarian streak with Mr Thiel, has focused attention on trying to fix the shortcomings of society and government. In an essay this year called “In Defence of Us”, he argues against “historical nihilism”, or an excessive focus on the failures of the West.

With a soft spot for Roman philosophy, he has created the Cicero Institute in Austin that aims to inject free-market principles such as competition and transparency into public policy.

He is also bringing the startup culture to academia, backing a new place of learning called the University of Austin, which emphasises free speech.

All three have business ties to their mentors. As a teen, Mr Altman was part of the first cohort of founders in Mr Graham’s Y Combinator, which went on to back successes such as Airbnb and Dropbox. In 2014 he replaced him as its president, and for a while counted Mr Thiel as a partner (Mr Altman keeps an original manuscript of Mr Thiel’s book “Zero to One” in his library). Mr Thiel was also an early backer of Stripe, founded by Mr Collison and his brother, John. Mr Graham saw promise in Patrick Collison while the latter was still at school. He was soon invited to join Y Combinator. Mr Graham remains a fan: “If you dropped Patrick on a desert island, he would figure out how to reproduce the Industrial Revolution,”

While at university, Mr Lonsdale edited the Stanford Review, a contrarian publication co-founded by Mr Thiel. He went on to work for his mentor and the two men eventually helped found Palantir. He still calls Mr Thiel “a genius”—though he claims these days to be less “cynical” than his guru.

“The tech industry has always told these grand stories about itself,” says Adrian Daub of Stanford University and author of the book, “What Tech Calls Thinking”. Mr Daub sees it as a way of convincing recruits and investors to bet on their risky projects. “It’s incredibly convenient for their business models.”

Yet the impact could ultimately be positive. Frustrations with a sluggish society have encouraged them to put their money and brains to work on problems from science funding and the redistribution of wealth to entirely new universities. Their exaltation of science may encourage a greater focus on hard tech

Silicon Valley has shown an uncanny ability to reinvent itself in the past.

The Musk messages also reveal how some of the richest and most powerful men in the world treat actual billions of dollars with a level of care more appropriate for a 3-year-old tossing around Monopoly cash.

Oracle’s founder, Larry Ellison, essentially writes Musk a blank check over text, pledging, “A billion … or whatever you recommend.” The venture capitalist Marc Andreessen unsolicitedly offers Musk “$250M with no additional work required.” And Michael Grimes, a top investment banker at Morgan Stanley, proposes a meeting with Bankman-Fried as a way to “get us $5bn equity in an hour.”

The blitheness is the point. It is a total power move to talk about getting “$5bn in equity in an hour” the same way we mere mortals talk about Venmo-ing a friend $15 for lunch. The texts make it clear that these men are fundamentally alienated from the rest of the world by their wealth.

“These are absolutely not normal people with a normal understanding of the world.”

The men in Musk’s phone also appear wildly confident in their own abilities and those of their peers. Mathias Döpfner, the CEO of the media conglomerate Axel Springer, infamously texted Musk his bullet-pointed plan for Twitter, which began with the line item “1.),, Solve Free Speech.”

They teach us what happens when a small group of people with too much money come to view that money not just as a reward for success, but as its own form of merit—a specious achievement that totally alienates them from reality.

Ultimately, Exhibit H documents the loneliness and isolation of being the world’s richest man. As told via the texts, the seed of Musk’s Twitter purchase was planted by sycophants deferential to the billionaire who will never give him hard, truthful advice, because they wish to stay close to him.

the one time he receives actual, honest feedback from Agrawal, Musk behaves aggressively and impulsively, sealing his fate.

That has made him the most popular influencer among American Gen-Zers, according to a twice-yearly survey of 14,500 of the country’s teenage boys and girls by Piper Sandler, a finance company that researches consumer data. Teachers have reported boys as young as 11 praising and emulating him.

What happened in 2012, when the oldest Gen-Z babies were in their middle teens? That was the year Facebook acquired Instagram and young people flocked to the latter site. It was also “the beginning of the selfie era.”

Mr. Haidt’s research, confirmed by that of others, shows that depression rates started to rise “all of a sudden” around 2013, “especially for teen girls,” but “it’s only Gen Z, not the older generations.” If you’d stopped collecting data in 2011, he says, you’d see little change from previous years. “By 2015 it’s an epidemic.” (His data are available in an open-source document.)

Mr. Haidt imagines “literally launching our children into outer space” and letting their bodies grow there: “They would come out deformed and broken. Their limbs wouldn’t be right. You can’t physically grow up in outer space. Human bodies can’t do that.” Yet “we basically do that to them socially. We launched them into outer space around the year 2012,” he says, “and then we expect that they will grow up normally without having normal human experiences.”

The comparable numbers for millennials at the same age registered at half the Gen-Z rate: about 13% for girls and 5% for boys. “Kids are on their devices all the time,”

That meant the first social-media generation was one of “weakened kids” who “hadn’t practiced the skills of adulthood in a low-stakes environment” with other children. They were deprived of “the normal toughening, the normal strengthening, the normal anti-fragility.

Now, their childhood “is largely just through the phone. They no longer even hang out together.” Teenagers even drive less than earlier generations did.

Mr. Haidt especially worries about girls. By 2020 more than 25% of female teenagers had “a major depression.” The comparable number for boys was just under 9%.

Social media and selfies hit a generation that had led an overprotected childhood, in which the age at which children were allowed outside on their own by parents had risen from the norm of previous generations, 7 or 8, to between 10 and 12.

Most girls, by contrast, are drawn to “visual platforms,” Instagram and TikTok in particular. “Those are about display and performance. You post your perfect life, and then you flip through the photos of other girls who have a more perfect life, and you feel depressed.

He calls this phenomenon “compare and despair” and says: “It seems social because you’re communicating with people. But it’s performative. You don’t actually get social relationships. You get weak, fake social links.”

Mr. Haidt says he has no antipathy toward the young, and he calls millennials “amazing.”

Whereas millennial women are doing well, “Gen-Z women, because they’re so anxious, are going to be less successful than Gen-Z men—and that’s saying a lot, because Gen-Z men are messed up, too.”

He can think of only two, neither of them American: Greta Thunberg, 19, the Swedish climate militant, and Malala Yousafzai, 25, the Pakistani advocate for female education

I’m predicting that they will be less effective, less impactful, than previous generations.” Why? “You should always keep your eye on whether people are in ‘discover mode’ or ‘defend mode.’ ” In the former mode, you seize opportunities to be creative. In the latter, “you’re not creative, you’re not future-thinking, you’re focused on threats in the present.”

University students who matriculated starting in 2014 or so have arrived on campus in defend mode: “Here they are in the safest, most welcoming, most inclusive, most antiracist places on the planet, but many of them were acting like they were entering some sort of dystopian, threatening, immoral world.”

56% of liberal women 18 to 29 responded affirmatively to the question: Has a doctor or other healthcare provider ever told you that you have a mental health condition? “Some of that,” Mr. Haidt says, “has to be just self-presentational,” meaning imagined.

This new ideology . . . valorizes victimhood. And if your sub-community motivates you to say you have an anxiety disorder, how is this going to affect you for the rest of your life?” He answers his own question: “You’re not going to take chances, you’re going to ask for accommodations, you’re going to play it safe, you’re not going to swing for the fences, you’re not going to start your own company.”

To illustrate his point about Gen Z, Mr. Haidt challenges people to name young people today who are “really changing the world, who are doing big things that have an impact beyond their closed ecosystem.”

The problem, he says, is distinct to the U.S. and other English-speaking developed countries: “You don’t find it as much in Europe, and hardly at all in Asia.” Ideas that are “nurtured around American issues of race and gender spread instantly to the U.K. and Canada. But they don’t necessarily spread to France and Germany, China and Japan.”

something I hear from a lot of managers, that it’s very difficult to supervise their Gen-Z employees, that it’s very difficult to give them feedback.” That makes it hard for them to advance professionally by learning to do their jobs better.

“this could severely damage American capitalism.” When managers are “afraid to speak up honestly because they’ll be shamed on Twitter or Slack, then that organization becomes stupid.” Mr. Haidt says he’s “seen a lot of this, beginning in American universities in 2015. They all got stupid in the same way. They all implemented policies that backfire.”

Mr. Haidt, who describes himself as “a classical liberal like John Stuart Mill,” also laments the impact of social media on political discourse

“Social media is incompatible with liberal democracy because it has moved conversation, and interaction, into the center of the Colosseum. We’re not there to talk to each other. We’re there to perform” before spectators who “want blood.”

Is there a solution? “I’d raise the age of Internet adulthood to 16,” he says—“and enforce it.”

By contrast, “life went onto phone-based apps 10 years ago, and the protections we have for children are zero, absolutely zero.” The damage to Generation Z from social media “so vastly exceeds the damage from Covid that we’re going to have to act.”

Gen Z, he says, “is not in denial. They recognize that this app-based life is really bad for them.” He reports that they wish they had childhoods more like those of their parents, in which they could play outside and have adventur

Mailgun, the email delivery service used by Substack and Ghost, said the online publishing industry had more than quadrupled its sending volume over the last two years. The New York Times is continuing to add to its newsletter offerings for subscribers, including one written by the restaurant critic Pete Wells that just began as well as another by the opinion columnist Ross Douthat, a spokesman for the company said.

I’m sure the market for crappy newsletters few people are reading has collapsed,” Mr. VandeHei said. “It’s not peak newsletters — it’s the end of weak newsletters.

Blend these factors — a desire for escape from our virtual lives; bidding as fast as pushing a button; and the promotion of new collecting fields like outdated technology devices — and you have Heritage Auctions in Dallas.

Heritage is a whirlwind of activity, of passion, of hype, constantly trying new ways of enticing people to own something beautiful and useless. Ninety-one million Americans, according to U.S. Census Bureau surveys, are having trouble paying household bills. Everyone else is a potential bidder.

Twenty years ago, Heritage had four categories: coins, comics, movie posters and sports. Now it has more than 50, which generated revenue of $1.4 billion last year. Everything, at least in theory, is collectible.

“We don’t question the value or legitimacy of a particular subject matter relative to outmoded norms,” Mr. Benesh said. “We’re not here to tell you what’s worthwhile. The marketplace will tell you. The bidders” — Heritage has 1.6 million — “will tell you.”

In mid-2020, the privately held company moved to a 160,000-square-foot building by Dallas-Fort Worth International Airport, doubling the size of its former headquarters. Hundreds of specialists, most of them collectors themselves, prepare hundreds of thousands of items for bids here — researching, photographing, writing catalog copy.

The problem is, older historical items that were previously unknown are becoming rare. Every barn, basement and attic has been ransacked for treasures. New items related to Washington or Lincoln, for instance, are nearly impossible to find.

Today, China’s economy is roughly five times the size of India’s. The average citizen of China has an economic output of almost $13,000 a year, while the average Indian’s is less than $2,500

In human-development indicators, the contrast is even sharper, with infant mortality rates much higher in India, life expectancy lower and access to sanitation less prevalent.

The divergence, analysts say, comes down largely to China’s central consolidation of policy power, an earlier start in opening up its economy to market forces starting in the late 1970s, and its single-minded focus on export-led growth.

China took the first-mover advantage and then compounded its dominance as it pursued its plans relentlessly.

India started opening its quasi-socialist economy nearly a decade later. Its approach remained piecemeal, constrained by tricky coalition politics and the competing interests of industrialists, unions, farmers and factions across its social spectrum.

“There is that element where China is a natural role model — not for its politics, but for the sheer efficiency,”

The world now has a radically different power structure than it did in 1990. China has already made itself the world’s factory, all but closing off any path India could take to competitive dominance in export-driven manufacturing.

A “Make in India” campaign, inaugurated by Mr. Modi in 2014, has been stuttering ever since. Wage costs are lower in India than in China, but much of the work force is poorly educated, and the country has struggled to attract private investment with its restrictive labor laws and other impediments to business, including lingering protectionism.

service-sector growth can go only so far in reaping India’s promise of a demographic dividend, or blunt the peril of an unemployment crisis. Hundreds of millions of people can’t find jobs or are underemployed in work that pays too little.

the employment entrance exams at government agencies. These jobs are still coveted as private sector work remains limited and less stable.

650,000 students will apply for just 600 or 700 jobs in the national civil service this year.

The civil service is a tiny part of the work force, but it is prestigious — in part because it comes with job security for life. Most applicants spend years, and a big chunk of their family’s savings, and still fail to make the cut.

“Here there is no enterprise, no companies,” Mr. Kumar said. For any young person, “the question comes, ‘What next? What can I do?’”

The lessons Mr. Modi is taking from China are most apparent in his push for infrastructure development, investing heavily in highways, railways and airports to improve supply chains and connectivity.

India has quintupled its annual spending on roads and railways during Mr. Modi’s nine years in power

As Mr. Modi has boxed in opponents, cowed the press and overwhelmed independent elements of civil society, his government has lashed out at expressions of concern from abroad as evidence of a colonial plot to undermine India or a lack of understanding of India’s “civilizational” approach — both elements that diplomats had long heard in China’s own defensiveness.

All the while, the increasing militancy of his Hindu nationalist supporters, as arms of the state hang back and give perpetrators a free pass, exacerbates India’s religious fault lines and clashes that threaten to disrupt India’s rise.

Even as India tries to align its growing technological and economic capacity to capitalize on the Western tensions with China, it is determined to stick to its neutrality and maintain a balancing act between the United States and Russia. There is also the question of whether the West’s shift from China, the linchpin of the global economy, is a temporary recalibration or a more fundamental one.

“China took advantage of a favorable geopolitical moment to really transform itself by having access to technology, to capital, to markets led by the United States. It took advantage of that to build itself up,” Mr. Saran said. “This could be that moment for India.”

“It’s shoot first, ask questions later,”

Each one of these incidents resulted from unique events. But activists and researchers say they stem from a convergence of bigger factors — increased fear of crime and an attendant surge in gun ownership, increasingly extreme political messaging on firearms, fearmongering in the media and marketing campaigns by the gun industry that portray the suburban front door as a fortified barrier against a violent world.

“The gun lobby markets firearms as something you need to defend yourself — hammers in search of nails,”

The perception that crime, especially violent gun crime, has increased is not a manufactured myth. National murder rates have climbed by about a third since 2019, according to government data, even accounting for modest declines in fatal shootings over the past 18 months.

Gun purchases rose during the pandemic and the unrest and racial-justice protests after the murder of George Floyd. Nearly 20 percent of American households bought a gun from March 2020 to March 2022, and about 5 percent of Americans bought a gun for the first time,

More than 30 states also have “stand your ground” laws. Some have recently strengthened their “castle doctrine” laws, making it more difficult to prosecute homeowners who claim self-defense in a shooting.

“People become paranoid and over-worried — and then comes an unannounced knock on their door,”

But several large-scale studies have suggested that the laws have few benefits, increase the likelihood of gun violence and might discriminate against minority groups, especially Black people.

The effect of self-defense laws protecting homeowners and gun owners is fiercely debated, with proponents arguing that their mere presence deters criminal behavior or civil disorder

shootings in which white people shot Black people were nearly three times as likely to be found “justified” compared with cases where white people shot other white people.

A 2023 analysis of recent academic research by the nonpartisan RAND Corporation found no evidence that such laws had the deterrent effect that their sponsors claimed, and there was some indication, while not conclusive, that the laws might account for some increases in gun violence.

weapons were actually more likely to be used in suicides, discharged accidentally, stolen or brandished in domestic disputes, than used to fend off an external attack.

The National Rifle Association and other gun-rights groups have long disputed such assessments, citing surveys that show far greater use of weapons for legitimate self-defense.

About a third of the roughly 16,700 gun owners surveyed in a study led by William English, a Georgetown University business school professor, said they had used their guns for self-defense, prompting Mr. English to estimate that as many as 1.6 million people in the country had defended themselves with a weapon that year.

The mania behind these products is heightened by their collectability and the sense of connection they offer, industry experts say.“Material things have always been markers of identity,” Drenten said.

It’s also compounded by biology — puberty and cognitive development can feel upending and confusing, said Mindy Weinstein, the founder and chief executive of digital marketing company Market MindShift. So buying into a trend or product — perhaps popularized by older teens — can ease those uncomfortable feelings.

It’s known as the “bandwagon effect, and it’s really pronounced in that age group,

“they aren’t always sure where they fit into the world. But now by buying that [item] they feel like they fit in.

Every generation of tween has had products, accessories, brands and styles they covet. A decade ago, it was Justice clothing, colorful iPod minis, Sidekick cellphones and EOS lip balm. In the early 2000s, Juicy sweatsuits, North Face fleece jackets, Nike Shox, Abercrombie & Fitch and Razr flip phones reigned. In the ’90s it was buying from the Delia’s catalogue magazine, Lip Smacker balms, United Colors of Benetton and Tommy Hilfiger polos. The ’80s had Guess jeans, Keds, banana hair clips and J. Crew sweaters. In the ’70s it was mood rings, Wrangler and Levi’s jeans, Puma sneakers and Frye boots.

More than half of U.S. teenagers (ages 13 to 19) spend at least four hours a day on social media, according to Gallup, and most of that time is spent on YouTube and TikTok

And it’s highly effective — consumers are more likely to consider buying a product and have a favorable opinion about it if it went vira

“TikTok influencers already have their trust … teens and tweens see them and they want to also be into that trend and feel like they’re belonging to that social group,

It used to be that our hair, makeup and skin care products were only visible to those who entered our bedrooms, scanning vanities and opening drawers. Now, teens and tweens are filming “Get ready with me” videos, showing off their Rare Beauty liquid blush ($23), Laneige lip balm ($18) and Charlotte Tilbury setting spray ($38) as they complain about school or recap a friend’s bat mitzvah.

Margeaux Richmond and her friends spend a lot of time talking about skin care. The 12-year-old from Des Moines said she got a $62 Drunk Elephant moisturizer for Christmas. “It’s kind of pricey, but if it’s good for your skin it’s worth it,” she said. “It’s kind of important to me and my friends because we don’t want our skin to look bad or anything.”

This also fuels a collectability culture. The customer no longer wants one water bottle, one pair of Air Jordans, one Summer Fridays lip balm or one Nike sweatshirt — they want them in every color.

“We have to think about today’s consumers, not as consumers, but as fans; and fandom has always been intertwined with collecting,” Drenten said. “In today’s culture, particularly among young people, we’ve kind of shifted away from obsession with celebrities to obsession with brands.”

Having and displaying a collection on shelves and on social media is seen as a status symbol.

Superfans also collect accessories for some of these products, Briggs said, spawning a whole side industry for some products.

Who’s doing the actual buying is harder to track. Not all adolescents have jobs or parents who are able or willing to spend $550 on Apple AirPods Max or $275 on a Tiffany & Co’s Pink Double Heart Tag Pendant necklace. “These products, to some extent, are a point of privilege and status,

Some of the spending could be attributed to more young people in the workforce: Roughly 37 percent of 16- to 19-year-olds had a job or were looking for one last year,

That’s the highest rate since 2009.

Richmond said she uses her babysitting money to buy Drunk Elephant skin care or Kendra Scott jewelry — items “my parents won’t buy me.” She’s saving up for her second Stanley tumbler.

Drenten emphasized that shopping or gift hauls on social media don’t reflect what every teen or tween wants. It varies by socioeconomics, demographics and personal preference. “At the end of the day, they can still be influenced by who they’re around and not necessarily what they’re seeing as the top line products online.”

Other pundits and entrepreneurs say concerns about the tech are overblown and risk pushing regulators to block innovations that could help people and boost tech company profits.

Last year, politicians and policymakers around the world also grappled to make sense of how AI will fit into society. Congress held multiple hearings. President Biden issued an executive order saying AI was the “most consequential technology of our time.” The United Kingdom convened a global AI forum where Prime Minister Rishi Sunak warned that “humanity could lose control of AI completely.” The concerns include the risk that “generative” AI — which can create text, video, images and audio — can be used to create misinformation, displace jobs or even help people create dangerous bioweapons.

Since 2016, there have been two competing visions for the Democratic Party. One is the promise that began with Barack Obama of a multiracial coalition that would grow stronger as America’s demographics shifted; the other is the political revolution championed by Bernie Sanders as a way to unite nonvoters with the working class

Ms. Ocasio-Cortez bridges the gap between the two

what’s clear is that at a time when Democrats are struggling, she is quietly laying the groundwork to build a coalition broader than the one she came to power with, unafraid to take risks along the way.

After five years in Congress, she has emerged as a tested navigator of its byzantine systems, wielding her celebrity to further her political aims in a way few others have.

Three terms in, one gets the sense that we’re witnessing a skilled tactician exiting her political adolescence and coming into her own as a veteran operator out to reform America’s most dysfunctional political body.

To grasp what sets Ms. Ocasio-Cortez apart from many of her colleagues, you have to understand where she finds allies

In 2019, she and Senator Ted Cruz of Texas considered joining forces to write a bill that would bar former members of Congress from becoming lobbyists. Asked why she would consider an alliance with someone so loathed by liberals, she said, “I will swallow all of my distaste in this situation because we have found a common interest.”

It was a window into the politician she would become: pragmatic and results-driven, willing to work with people she considers her political adversaries, at least on legislation that appeals to her base

She has attributed the success of these efforts at least in part to her role as the second most powerful Democrat on the House Oversight Committee, which she said has “opened many windows” for collaboration.

while these bills may seem like small victories, they are more than that because, in a sense, she is redefining what bipartisanship looks like in Washington.

For decades, bipartisanship has meant bringing together moderates, lobbyists and establishment insiders to produce watered-down legislation unpalatable to many voters in both political partie

What Ms. Ocasio-Cortez is doing is different; she’s uniting politicians on the fringes of American politics around a broadly popular set of policies.

Americans in both parties overwhelmingly say that they don’t trust the government to do the right thing and that donors and lobbyists have too much sway over the legislative process.

more than 8 in 10 Americans believe politicians “are more focused on fighting each other than on solving problems.” One-fifth of respondents said lack of bipartisan cooperation was the biggest problem with the political system.

Ms. Ocasio-Cortez’s efforts to reach out to Republicans are offering what a sizable portion of Americans want from Congress: a return to getting things done.

The few policy matters on which progressives and conservatives align often boil down to a distrust of politicians and of big corporations, particularly technology companies and pharmaceutical giants.

Ms. Ocasio-Cortez has shrewdly made those causes her passion, building alliances with conservative colleagues interested in holding these industries accountable.

Last spring, she cosponsored a bill with, among others, Brian Fitzpatrick, a moderate Republican from Pennsylvania, and Matt Gaetz, the Florida rabble-rouser who has become one of Mr. Trump’s most steadfast allies. The legislation would bar members of Congress from trading individual stocks, a measure that as of the fall of 2022 was supported by nearly 70 percent of voters across party lines.

On Gaza, too, she has been willing to buck other members of her party to pursue an agenda that a majority of voters support. She was one of the first Democrats to call for a cease-fire; within weeks, nearly 70 percent of Americans said Israel should call one and try to negotiate with Hamas.

In March, Ms. Ocasio-Cortez was accosted by a handful of protesters who demanded that she call Israel’s war in Gaza a genocide.

Less than three weeks later, Ms. Ocasio-Cortez did accuse Israel of genocide and chastised the White House for providing military aid to the country while it blockaded Gaza. “If you want to know what an unfolding genocide looks like,” Ms. Ocasio-Cortez said in a speech on the House floor, “open your eyes. It looks like the forced famine of 1.1 million innocents. It looks like thousands of children eating grass as their bodies consume themselves, while trucks of food are slowed and halted just miles away.”

Last month, she voted against providing additional funding for Israel. Those were unpopular positions in Congress, where unconditional support for the country remains the norm, but they put her in line with a majority of Democratic voters.

These stances haven’t been enough to quell the doubts from a faction of the left that helped get her elected. Over the past few weeks, some have accused her of caving in to pressure from moderate Democrats

. Ms. Ocasio-Cortez has taken much of the heat from leftist activists who see her as a symbol of the contradictions and compromises inherent in the political system. It may not be realistic to expect absolute purity from her; she is, after all, a politician. But these critiques overlook the promise of what she’s doing behind the scenes.

Democratic pollsters and strategists are searching for ways for Mr. Biden to win back Muslims and Arab Americans in swing states such as Michigan and Georgia, recent college graduates who hoped to have their student debt forgiven, immigrant-rights activists and Latinos.

Some of the betrayal these voters feel was hardly the president’s fault; he was hampered on student loan debt by a federal judiciary stacked with judges sympathetic to conservative legal arguments, and Congress refused to pass the comprehensive immigration bill he supported in 2021, which would have provided legal status to as many as 11 million undocumented immigrants.

A more gifted orator might have been able to make the structural impediments in his way clear to voters, while also putting forth a proactive vision for dismantling the core problems baked into our politics.

In that, someone like Ms. Ocasio-Cortez, who endorsed Mr. Biden for re-election in 2023, may be able to help. She’s the Democratic Party’s most charismatic politician since Barack Obama and its most ardent populist since Bernie Sanders.

she can offer voters something more substantial than a hollow rebuke of Trumpism

Last month, when the journalist Mehdi Hasan asked her how she’d respond to “a young progressive or Arab American who says to you, ‘I just can’t vote for Biden again after what he’s enabled in Gaza,’” Ms. Ocasio-Cortez said a vote for Mr. Biden didn’t necessarily mean an endorsement of all his policies. “Even in places of stark disagreement, I would rather be organizing under the conditions of Biden as an opponent on an issue than Trump,” she said. It was a shrewd political maneuver, designed to distance herself from Democrats who support Israel unconditionally, while meeting voters — some of whom have lost family members in Gaza — where they are

There are, of course, limits to this strategy. Some on the left see Ms. Ocasio-Cortez’s endorsement of Mr. Biden as a betrayal of progressive values, particularly in the wake of the climbing death toll in Gaza.

The moderate Republicans who turned out for Mr. Biden in 2020 might shrink from a Democratic Party led by someone they consider an outspoken progressive.

But for every moderate or leftist voter lost with a strategy like Ms. Ocasio-Cortez’s, the Democratic Party may be able to win someone new — from the pool of disillusioned Americans who feel shut out of the political process.

“The Lebanese war taught me early about the ugliness of tribalism and religious dogma,” Saad wrote. “It likely informed my subsequent disdain for identity politics, as I grew up in an ecosystem where the group to which you belonged mattered more than your individuality.” 

Musk has said his concerns about Woke Mind Virus, his way of labeling progressive liberal beliefs that he says are overly politically correct and stifling to public debate and free speech, helped fuel his desire to acquire the social-media company Twitter turned X in late 2022. It is on that platform where Musk, 52 years old, has aired many of his concerns.

For his part, Musk says his politics are “fairly moderate”—what he describes as his supporting safe cities, secure borders, a neutral judiciary and sensible spending. And, he adds, what he calls being “pro environment.”

Still, Musk is prone to painting risks at their most extreme and gravitating to others with similar world views. 

“For many years now, I have warned that the path that the West is taking will result in civil war. It might take 5 years, 50 years, or 100 years but it is inevitable,” Saad tweeted on the day of Tesla’s quarterly earnings call last month. 

Before joining that call, Musk was on X, agreeing with Saad in a thread of responses. “War will come whether we want it or not,” Musk posted. 

It’s dropping in developing countries, too. India surpassed China as the most populous country last year, yet its fertility is now below replacement.

“The demographic winter is coming,”

Smaller populations come with diminished global clout, raising questions in the U.S., China and Russia about their long-term standings as superpowers.

Some demographers think the world’s population could start shrinking within four decades—one of the few times it’s happened in history.

A year ago Japanese Prime Minister Fumio Kishida declared that the collapse of the country’s birthrate left it “standing on the verge of whether we can continue to function as a society.”

Had fertility stayed near 2.1, where it stood in 2007, the U.S. would have welcomed an estimated 10.6 million more babies since

In 2017, when the global fertility rate—a snapshot of how many babies a woman is expected to have over her lifetime—was 2.5, the United Nations thought it would slip to 2.4 in the late 2020s. Yet by 2021, the U.N. concluded, it was already down to 2.3—close to what demographers consider the global replacement rate of about 2.2

He has found that national birth registries are typically reporting births 10% to 20% below what the U.N. projected.

China reported 9 million births last year, 16% less than projected in the U.N.’s central scenario. In the U.S., 3.59 million babies were born last year, 4% less than the U.N. projected. In other countries, the undershoot is even larger: Egypt reported 17% fewer births last year. In 2022, Kenya reported 18% fewer.

In 2017 the U.N. projected world population, then 7.6 billion, would keep climbing to 11.2 billion in 2100. By 2022 it had lowered and brought forward the peak to 10.4 billion in the 2080s. That, too, is likely out of date

the University of Washington now thinks it will peak around 9.5 billion in 2061 then start declining. 

The falling birthrates come with huge implications for the way people live, how economies grow and the standings of the world’s superpowers.

In the U.S., a short-lived pandemic baby boomlet has reversed. The total fertility rate fell to 1.62 last year, according to provisional government figures, the lowest on record.

In 2017, when the fertility rate was 1.8, the Census Bureau projected it would converge over the long run to 2.0. It has since revised that down to 1.5. “It has snuck up on us,”

Historians refer to the decline in fertility that began in the 18th century in industrializing countries as the demographic transition. As lifespans lengthened and more children survived to adulthood, the impetus for bearing more children declined. As women became better educated and joined the workforce, they delayed marriage and childbirth, resulting in fewer children. 

Some demographers see this as part of a “second demographic transition,” a societywide reorientation toward individualism that puts less emphasis on marriage and parenthood, and makes fewer or no children more acceptable. 

In research published in 2021, the University of Maryland’s Kearney and two co-authors looked for possible explanations for the continued drop. They found that state-level differences in parental abortion notification laws, unemployment, Medicaid availability, housing costs, contraceptive usage, religiosity, child-care costs and student debt could explain almost none of the decline

“We suspect that this shift reflects broad societal changes that are hard to measure or quantify,” they conclude.

while raising children is no more expensive than before, parents’ preferences and perceived constraints have changed

“If people have a preference for spending time building a career, on leisure, relationships outside the home, that’s more likely to come in conflict with childbearing.” 

Once a low fertility cycle kicks in, it effectively resets a society’s norms and is thus hard to break, said Jackson. “The fewer children you see your colleagues and peers and neighbors having, it changes the whole social climate,”

Fertility is below replacement in India even though the country is still poor and many women don’t work—factors that usually sustain fertility.

Urbanization and the internet have given even women in traditional male-dominated villages a glimpse of societies where fewer children and a higher quality of life are the norm. “People are plugged into the global culture,

mothers and fathers, especially those that are highly educated, spend more time with their children than in the past. “The intensity of parenting is a constraint,”

Sub-Saharan Africa once appeared resistant to the global slide in fertility, but that too is changing. The share of all women of reproductive age using modern contraception grew from 17% in 2012 to 23% in 2022

Jose Rimon, a professor of public health at Johns Hopkins University, credits that to a push by national leaders in Africa which, he predicted, would drive fertility down faster than the U.N. projects. 

Mae Mariyam Thomas, 38, who lives in Mumbai and runs an audio production company, said she’s opted against having children because she never felt the tug of motherhood. She sees peers struggling to meet the right person, getting married later and, in some instances, divorcing before they have kids. At least three of her friends have frozen their eggs,

Danielle Vermeer grew up third in a family of four children on Chicago’s North Side, where her neighborhood was filled with Catholics of Italian, Irish and Polish descent and half her close friends had as many siblings as her or more.

Her Italian-American father was one of four children who produced 14 grandchildren. Now her parents have five grandchildren, including Vermeer’s two children, ages 4 and 7.

The 35-year-old, who is the co-founder of a fashion thrifting app, said that before setting out to have children, she consulted dozens of other couples and her Catholic church and read at least eight books on the subject, including one by Pope Paul VI. She and her husband settled on two as the right number.“The act of bringing a child into this world is an incredible responsibility,” she said.

Perhaps no country has been trying longer than Japan. After fertility fell to 1.5 in the early 1990s, the government rolled out a succession of plans that included parental leave and subsidized child care. Fertility kept falling.

In 2005, Kuniko Inoguchi was appointed the country’s first minister responsible for gender equality and birthrate. The main obstacle, she declared, was money: People couldn’t afford to get married or have children. Japan made hospital maternity care free and introduced a stipend paid upon birth of the child. 

Japan’s fertility rate climbed from 1.26 in 2005 to 1.45 in 2015. But then it started declining again, and in 2022 was back to 1.26.

This year, Prime Minister Fumio Kishida rolled out yet another program to increase births that extends monthly allowances to all children under 18 regardless of income, free college for families with three children, and fully paid parental leave.

noguchi, now a member of parliament’s upper house, said the constraint on would-be parents is no longer money, but time. She has pressed the government and businesses to adopt a four-day workweek

If you’re a government official or manager of a big corporation, you should not worry over questions of salary now, but that in 20 years time you will have no customers, no clients, no applicants to the Self-Defense Forces.”

Hungarian Prime Minister Viktor Orban has pushed one of Europe’s most ambitious natality agendas. Last year he expanded tax benefits for mothers so that women under the age of 30 who have a child are exempt from paying personal income tax for life. That’s on top of housing and child-care subsidies as well as generous maternity leaves. 

Hungary’s fertility rate, though still well below replacement, has risen since 2010. But the Vienna Institute of Demography attributed this primarily to women delaying childbirth because of a debt crisis that hit around 2010. Adjusted for that, fertility has risen only slightly, it concluded.

The usual prescription in advanced countries is more immigration, but that has two problems.

With no reversal in birthrates in sight, the attendant economic pressures are intensifying. Since the pandemic, labor shortages have become endemic throughout developed countries. That will only worsen in coming years as the postcrisis fall in birthrates yields an ever-shrinking inflow of young workers, placing more strain on healthcare and retirement systems.

worsening demographics could make this a second consecutive “lost decade” for global economic growth.

The Institute for Health Metrics and Evaluation found little evidence that pronatalist policies lead to sustained rebounds in fertility. A woman may get pregnant sooner to capture a baby bonus, researchers say, but likely won’t have more kids over the course of her lifetime.

As more countries confront stagnant population, immigration between them is a zero-sum gam

Historically, host countries have sought skilled migrants who enter through formal, legal channels, but recent inflows have been predominantly unskilled migrants often entering illegally and claiming asylum.

High levels of immigration have also historically aroused political resistance,

Many of the leaders keenest to raise birthrates are most resistant to immigratio

As birthrates fall, more regions and communities experience depopulation, with consequences ranging from closed schools to stagnant property values. Less selective colleges will soon struggle to fill classrooms because of the plunge in birthrates that began in 2007, said Fernández-Villaverde. Vance said rural hospitals can’t stay open because of the falling local population.

An economy with fewer children will struggle to finance pensions and healthcare for growing ranks of elderly. South Korea’s national pension fund, one of the world’s largest, is on track to be depleted by 2055

There’s been little public pressure to act, said Sok Chul Hong, an economist at Seoul National University. “The elderly are not very interested in pension reform, and the youth are apathetic towards politics,” he said. “It is truly an ironic situation.”