We have been in wartime production mode since the 40s.
The amount of people on earth exploded after wwii because so many lives were lost and needed to be replaced. There were programs designed to help those surviving soldiers raise families and rebuild the fighting and consumption capacity of the nation.
Contraception wasn't common, women had little economic mobility, and people were brow beaten into having kids before they were ready by neighbors and family members. It also didn't help that people died sooner, so there was a greater sense of urgency around not missing out on parenthood.
Now there are a number of things going on:
1. People can't afford children. Whatever bonuses these countries are giving out are generally only helping out less than a quarter of the actual costs of raising a child. It's political theater designed to give an impression that they're doing something and a lot of the time it's heavily means tested and only helps a small percentage of people it's supposed to.
2. Estrangement and disowning of parents due to the abuse they exposed their children to has become more common as adults have become more focused on their mental health and introspection. Adults don't give a shyt about winning the approval of a person who humiliated and hurt them at the most vulnerable time of their lives. Previous generations simply pretended they didn't have issues instead of facing them and working on them. It's how you have a grown as man that will have a fukking meltdown because they messed up on his drink at a drive through but refuses to say he has a problem with anger or anxiety. Or the lunatic who drinks a bottle of whiskey every night but refuses to admit he is depressed and alcohol is an escape. Or the moron who says that people are too sensitive but was in a picture screaming at the top of her lungs at a 10 year old black child trying to go to a majority white school. That kind of adult who lives in denial is slowly going away.
3. Other ways of finding fulfillment have reached the forefront of people's minds. They're realizing they can be happy either single or with a partner. They're spending time in online communities that don't exist in their town or city, they're focusing on experiencing things around and about the world before they go. Climate change will destroy certain islands and cities (like venice) so they want to satisfy their curiosity while they still can.
All of these things are coming together to restore human fertility rates to what they would have been prior to WWII. This is bad news for you if you're rich because consumption levels will reduce and labor will be more expensive (e.g. you'll have to actually pay people more)
Right wingers in rich countries want the borders closed. That's all well and good, but that means that the companies actually running those countries can't suppress wages with immigrant labor. Your cleaning crew can't be made up of 75 year olds. You need young people and the only way you're going to get them is by offering higher pay. In America they want to outlaw abortion, contraception and really all manner of family planning because they think they can trap young people into low wage labor(you have to pay for for the expenses of a child you had because your pullout game was weak)
But that's also not a solution because young people are caring less about dating and romance anyway and are content to just hang out with friends to the point where dating apps were literally trying to pressure women to not be celibate.
The ads mocked women for choosing not to date, and created an internet backlash.
www.texasstandard.org
They've created a mess because they have been so focused on short term gains they didn't think about the kind of future they're creating. People will still have kids, but they won't be having the number needed to keep this economic house of cards going. The end result will be companies having to be forced to make less goods, pay employees more, and pocket less of the money from sales and wage suppression. You will see a global shrinking of the world economy. It will eventually get to somewhere along the lines of how it was in the early 20th century.