Difference between revisions of "Race to the Bottom"
Jump to navigation
Jump to search
(CSV import) |
(No difference)
|
Latest revision as of 19:18, 11 March 2020
Race to the Bottom - (expression)
Definition
This describes a situation in which employers try to undercut their competitors by cutting costs (usually labour costs). It can also refer to governments cutting taxes in order to attract businesses to base themselves in their countries.
Extra
Source: Adapted from Investopedia and Wikipedia
Example of Use: In an economically rational world, a race to the bottom is a sign of competition.