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Race to the bottom
Meaning
Noun
●
In Economics:
A
situation
in which
competition
between
governments
leads
to very
excessive
(harmful) deregulation.
●
A
situation
in which
competition
between
entities
leads
to
elimination
of
perks
or
amenities
, often in the interest of
cutting
costs.
●
Any
situation
in which
multiple
parties
are
seemingly
competing
to
achieve
the
greatest
level of mediocrity.
Sourced from
Wiktionary
Antonyms
Race To The Top
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