In 2004 the Japanese economy was in a gravely depressed state, with little growth for nearly a decade. However, it would be wrong to call this period 'the lost decade' as many do. A better approach is to examine how a dynamic society, progressive in ways different from those which only generate growth in the GNP, has been built. This new economy pursues a new objective through new approaches, pursuing quality of life rather than raising the material standards of living.