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generous financial supports

Hard disagree. The housing / labor markets systems are fundamentally broken and tossing what is effectively scraps at people won't cause them to have a second child in their one bedroom or move 1.5 hours away from their high status job

Intuitively that makes sense, but housing and labour markets don't seem to correlate much with fertility rates.

In a European context, France has much higher fertility than any of the Nordic countries despite higher unemployment and effectively the same housing affordability stats. More internationally the figures in Israel (pre Oct 2023) and Japan also go against the grain.

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