The terms, “Age of Right Teachings” and “Age of Counterfeit Teachings,” express the Buddhist view of history. It is believed that for a while after a Buddha has entered Nirvana, people will remember his teachings correctly, put them into practice, and attain enlightenment. However, as time passes, those teachings will become mere academic formalities. People will know about them and be able to discuss them, but they will no longer practice them diligently and attain enlightenment. This second period is called the Age of Counterfeit Teachings. Finally, the teachings will decay altogether. People will neither practice them, understand them, nor attain enlightenment. This is the Age of Degeneration, when Buddhism declines and finally fades away. It is believed by most scholars that the first and second periods last for a thousand years each. The Age of Degeneration can drag on for as long as 10,000 years. In any case, Never-Despising Bodhisattva lived during the second of these three periods, an Age of Counterfeit Teachings.
Introduction to the Lotus Sutra