Race To The Bottom Definition Geography

They fear that globalization only creates a race to the bottom.

Race to the bottom definition geography. Race to the bottom a situation in which striving to have the lowest possible prices in order to attract the highest number of customers also drives down standards of the product or service worsens conditions for workers in the industry and ultimately leads to problems for everyone. The race to the bottom refers to a competitive situation where a company state or nation attempts to undercut the competition s prices by sacrificing quality standards or worker safety often. Figure 3 shows the current official racial definitions used by the us census. A situation in which companies compete with each other to reduce costs by paying the lowest wages.

This geographical scheme is the product of various historical social and political processes. Race to the bottom a situation in which striving to have the lowest possible prices in order to attract the highest number of customers also drives down standards of the product or service worsens conditions for workers in the industry and ultimately leads to problems for everyone. Business the idea that economic competition will lead to lower standards worse conditions for workers and workers in some countries losing their jobs to lower paid workers in other countries. The race to the bottom is a socio economic phrase to describe government deregulation of the business environment or reduction in tax rates in order to attract or retain economic activity in their jurisdictions.

The effect and intent of these actions is to lower labor rates cost of business or other factors and thus the metaphor where. Race to the bottom meaning. The race to the bottom is a socio economic phrase which is used to describe government deregulation of the business environment or taxes in order to attract or retain economic activity in their. An outcome of globalization and free trade it may occur when competition increases between geographic areas over a particular sector of trade and production.

Race is an inherently geographical concept. Geographic race definition is a subdivision of a biological species coincident with a geographic region and presumably the resultant of environmental peculiarities. A person s racial membership ultimately comes down to where in the world their ancestors came from.