Lost Decade (Japan) Decade. However, several Japanese policymakers have attempted reforms to address the malaise in the Japanese economy. After Shinzo Abe was elected as Japanese prime minister in December 2012, Abe introduced a reform program known as Abenomics which sought to address many of the issues raised by Japan's Lost Decade. His "three arrows" of reform intend to address Japan's chronically low inflation, decreasing worker productivity relative to other developed nations, and demographic issues raised by an aging population. Investor response to the announced reform was strong, and the Nikkei 225 rallied to 20,000 in May 2015 from a low of around
2014 Japanese general election re-appointed). The turnout in this election is the lowest in Japanese history. In 2012, the Democratic Party government under Yoshihiko Noda decided to implement a raise of the Japanese consumption tax. Following this move, the Liberal Democratic Party under Shinzo Abe regained control of the Japanese government in the December 2012 general election. Abe proceeded to implement a series of economic programs known as "Abenomics" in a bid to stimulate the economy. Despite these programs, Japan entered a technical recession in mid-2014, which Abe blamed on the consumption tax hike, even though many members of the LDP supported the hike.