The demands of work have eaten childhood (in zero-sum education races) family life, neighborhoods and social life (people moving all the time for a better job), spiritual life (exhaustion).
Market liberalism has pushed more and more debt (e.g. student loans), risk (debts for other things like housing), and uncertainty (random layoffs, zero hours contracts, gig economy) onto individuals and households.
Edit: Japan, China, Korea, and Thailand are speed-running the process. Vietnam, Indonesia, Philippines and India are not far behind - all states of India except Bihar already have sub-replacement fertility for instance.