Abstract
Based on a 180 country strong worldwide data set and cross sectional correlation studies, this paper outlines that hallmark pillars of capitalism are all negatively associated with fertility rates. The 2017 Economic Freedom Index is significantly negatively correlated with fertility rates around the globe. Based on a 139 country strong worldwide dataset on industrialization as measured by the UNIDO in the Industrialization Intensity Index of 2014 and fertility rates, a highly significant negative relation is found between industrialization and fertility rates around the world. Urban areas around the world tend to have higher fertility rates and access to markets within rural communities lowers fertility rates measured by the World Bank Rural Access Index for 64 countries around the world. The inverse relation of economic freedom and fertility was also found for 50 U.S. states based on the 2017 Economic Freedom Index and fertility rates in the United States.
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