The race to the bottom is a socio-economic concept that is argued to occur between countries, states, provinces or territories as an outcome of globalization, free trade, neoliberalism or economic deregulation. When competition becomes fierce between geographic areas over a particular sector of trade and production, governments are given increased incentive to cut business regulations, labor standards, environmental laws and business taxes. The phrase "race to the bottom" is typically used by anti-globalization activists and those supporting fair trade.
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Famous quotes containing the words race and/or bottom:
“Very few of our race can be said to be yet finished men. We still carry sticking to us some remains of the preceding inferior quadruped organization. We call these millions men; but they are not yet men. Half-engaged in the soil, pawing to get free, man needs all the music that can be brought to disengage him.”
—Ralph Waldo Emerson (1803–1882)
“I am glad of this war. It kicks the pasteboard bottom in of the usual “good” popular novel. People have felt much more deeply and strongly these last few months.”
—D.H. (David Herbert)