This opinion piece from the NYTimes touches on the question, can life be good in the absence of economic growth, or how can culture adjust to new realities…given Japan’s amazing economic trajectory in the 20th century, the young people who came of age during and after the "lost decade" of economic stagnation (which some think we are risking here in the US) have a very different perspective than their elders.
Japan and the Ancient Art of Shrugging
By NORIHIRO KATO
Published: August 21, 2010
It’s a relief to no longer have the second-largest economy in the world.