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Sustainability Conditions for Universal Basic Income in the Economic Recession Caused by COVID-19

In: The Kyoto Post-COVID Manifesto For Global Economics

Author

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  • Tadashi Yagi

    (Doshisha University)

Abstract

The coronavirus disease 2019 (COVID-19) pandemic has caused a severe recession in the world economy, which led to an increase in unemployment, and worsened the life of people, especially in the low-income class. In this chapter, we examine the properties of universal basic income policies as a measure for improving the unequal society and providing people with a safety-net in life. In the last part of the chapter, we examine the sustainability conditions of UBI with Seigniorage. Seigniorage refers to government revenue earned by printing money. We insist that UBI policy financed by Seigniorage would be sustainable as long as GDP gap does not bring about inflation. In other word, UBI would work to improve the macroeconomic situation and the life of people in deflationary situation.

Suggested Citation

  • Tadashi Yagi, 2022. "Sustainability Conditions for Universal Basic Income in the Economic Recession Caused by COVID-19," Creative Economy, in: Stephen Hill & Tadashi Yagi & Stomu Yamash’ta (ed.), The Kyoto Post-COVID Manifesto For Global Economics, chapter 0, pages 93-109, Springer.
    • Handle: RePEc:spr:crechp:978-981-16-8566-8_6
    DOI: 10.1007/978-981-16-8566-8_6
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