a race to the bottom happens when countries, companies, or even workers compete by lowering standards instead of improving quality.
one country cuts taxes and labor protections to attract businesses, another goes even lower, then another follows.
everyone is trying to become more competitive, but the end result can be worse wages, weaker protections, lower taxes, or more environmental damage.
basically, competition where winning can make everyone worse off.
top: all
|
today
search in topic