Race to the bottom is a socio-economic concept describing a scenario in which individuals, companies, or governments compete by incrementally lowering standards or regulations to reduce costs in order to attract economic activity. This can include labor laws and enforcement, tax rates, and environmental regulations.
Race to the bottom is a socio-economic concept describing a scenario in which individuals, companies, or governments compete by incrementally lowering standards or regulations to reduce costs in order to attract economic activity. This can include labor laws and enforcement, tax rates, and environmental regulations.
Source: Wikipedia "Race to the bottom" · CC BY-SA 4.0
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