“Well, I think that is a good explanation for fertility…” — Cato Audio at 10:07
“Well, I think that is a good explanation for fertility decline in past periods. So if you look in the 1930s kind of onwards, well, fertility decline has been happening for a long time. So I think that that's also something we get really wrapped around the axle on the most recent decline where we've gone back to below…”
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