Today Nobel laureate Professor Gary S. Becker of University of Chicago wrote on The Asian Wall Street Journal ("Missing Children", p. 15) about low fertility rates many countries are trying to deal with. He mentioned about Japan, Russia, Korea, etc. as countries that are struggling to reverse the falling fertility rates, but, interestingly, failed to mention Singapore. Anyhow, his take on the prospect of reversing the falling fertility rate through government policies in those countries is rather pessimistic. He suggests that the only way to prevent the population in those countries from shrinking is to open their gates to immigration:

If I am right, the only solution for countries that continue to be concerned about a future with declining and aging populations is to open their gates to immigration. Yet in most countries large-scale immigration creates political, economic and social problems. Immigration is an especially unwelcome alternative for Japan, given the history of Japanese reluctance to have many foreigners settling in their country. As a result, Japan, Russia and many other countries face a worrisome demographic and economic future.

In large part, I agree with his view. My own study shows that financial incentives have only moderate effects on fertility rate in Singapore, as in many other countries. As Singapore has been most open to immigration among Asian countries and now tries to be even more open, Singapore may be just the country that should not worry too much about shrinking population.

It is a pity that Professor Becker did not know what Singapore is trying to do. He would have been delighted.