Since he was a socialist I would presume it was going to cure all ills forever.
With the exception of Africa, all over the World birth rates are below replacement levels. I figure Governments are so messed up in Africa they can't depend on it for anything, much less a person's retirement. In Africa I figure your average person has kids so they not only help as soon as they can , but depend on them to help the parents when they are old and feeble. The West has the state now taking up the old person burden so much of the incentive for lots of kids is gone.