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Title
No.81-Review of the Universal Basic Income Theory and Practice
Uploaded Time
2020/1/29 13:46:05
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struggle12
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Introduction
Finland initiated its nationwide Universal Basic Income (UBI) experiment in 2017, which is widely regarded as a critical step bringing the idea into practice. The experiment attracted thus considerable global attention. This paper surveys the recent progress on UBI- related policies and academic researches. We propose a general framework that applied to the economic analysis of the UBI. In the light of the framework, we evaluate the impacts of several influential UBI experiments in terms of equity, efficiency, and fiscal effects, then draw lessons from these experiments and discuss the feasibility of introducing UBI to China. Our analysis yields the preliminary conclusions, namely the partial UBI scheme overlaps with the existing Dibao policy, the insufficient UBI scheme fails to provide safety security for the low-income groups, whereas without thorough reforms on the social welfare system, the canonical UBI scheme imposes tremendous fiscal burden that must be financed by taxes, which could lead to incentive distortion and efficiency loss. Nevertheless, given the ethical merits of the UBI, it is worthy to seek more efficient and economically sustainable ways of implementation the UBI.
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