The Financial Feasibility of Basic Income and the Idea of a Refundable Tax Credit in Japan

In Japan, like in other industrialized countries, economists have advocated basic income (BI) and similar income security schemes of various types. For example, some conservative economists, who support efficient market mechanisms, assert that BI can activate the market and create an efficient social security administration. On the other hand, some liberal economists, who support the idea of social rights and an increase in social welfare, claim that BI can solve the malfunctions of existing social security systems and guarantee the right to well-being.