race to bottom
Standards-lowering competition spiral
A race to the bottom is competition that degrades standards rather than improving them.
When businesses or governments compete by cutting wages, weakening regulations, or lowering quality to gain advantage, each tries to undercut the others: States engage in a race to the bottom on corporate taxes.
The phrase implies that such competition harms everyone except those exploiting it.
- downwardToward a lower position
- spiralCurve winding around center
- competitionStruggle for supremacy
- price warCompeting via discounts
- undercuttingCharging less than rivals
deregulation · wages · exploitation · standards · cheap · labor · working conditions · outsourcing · profit · cost cutting · corners · corner cutting · shortcuts · bare minimum · sweatshop · bidding · lowest bidder · pressure
- globalizationglobalization, free trade, global village, global trade, multinationals
- pricingpricing, discount price, overpricing, discounts, overcharge
race to bottomrace to the top
Contest for supremacy
leveling up · harmonization · raising the bar · cooperation · coordination
race, bottom, races, raced, racing, racer, racers, bottoms, bottomed