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.
Read more about Race To The Bottom: Theory, History and Usage
Famous quotes containing the words race to, race and/or bottom:
“Young women ... you are, in my opinion, disgracefully ignorant. You have never made a discovery of any sort of importance. You have never shaken an empire or led an army into battle. The plays by Shakespeare are not by you, and you have never introduced a barbarous race to the blessings of civilization. What is your excuse?”
—Virginia Woolf (1882–1941)
“No race has the last word on culture and on civilization. You do not know what the black man is capable of; you do not know what he is thinking and therefore you do not know what the oppressed and suppressed Negro, by virtue of his condition and circumstance, may give to the world as a surprise.”
—Marcus Garvey (1887–1940)
“I was born upon thy bank, river,
My blood flows in thy stream,
And thou meanderest forever
At the bottom of my dream.”
—Henry David Thoreau (1817–1862)