Race to the bottom - sustany/dvg GitHub Wiki

Causal chain in which parties compete for a desired result by making increasingly larger concessions. �Although some parties may temporarily out-compete others, the concessions lead to adverse consequences that may go unnoticed until it is too late to change course. �Some observers claim that a race to the bottom results when governments compete for business by lowering labor standards or corporate taxes.

See Protectionism�and Free trade.