Is low fertility a twenty-first-century demographic crisis?

Nearly half of the world population in 2000 lived in countries with fertility rates at or below replacement level, and nearly all countries will reach low fertility levels in the next two decades. Concerns about low fertility, fertility that is well below replacement, are widespread. But there are both persistent rationales for having children and institutional adjustments that can make the widespread intentions for two children attainable, even in increasingly individualistic and egalitarian societies.