Children per couple goes down as quality of life goes up. All developed countries see birthrates decrease. No one is actively discouraging smart people from reproducing -- they're just better off and don't need children as a safety net for retirement, and they can access good birth control.
The idea that smart people are only produced by other smart people is nonsense. Genes regress to the mean, so most smart people won't have mostly smart children. And intelligence is significantly affected by nurture, not just nature.
And beyond all that, smart people aren't the end-all, be-all of humanity. They make useful things, but are of course capable of great evil (or mental illness or any other issue that limits their contribution to society).