While Prime Minister Shinzo Abe hopes the momentum of his economic policies raises the spirits of the Japanese people and buoys the stock market as well, decadeslong economic malaise has already crushed the hopes and dreams of many young people, who will be leading the nation in the years to come.
The long-held notion that the vast majority of Japanese are middle class grew harder to sustain in the early 1990s, after the economic bubble burst. Today, a sense of passivity is believed to prevail among the young, who are often referred to as "Satori no Sedai" ("Generation Resignation") — those born just around the time the economy started its slide two decades ago.
Critics say youths in this generation are unambitious, averse to risk and reluctant to engage in romantic relationships. They are also said to have little appetite for luxury goods and generally are not willing to go the extra mile to achieve goals. A 2009 survey by Benesse Corp. found that less than half of 4,070 high school students polled online said they believe effort is not rewarded in Japan society.