race to the bottom

Noun

Meaning

(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.

Antonyms

Examples

Letting your customers set your standards is a dangerous game, because the race to the bottom is pretty easy to win. Setting your own standards--and living up to them--is a better way to profit. Not to mention a better way to make your day worth all the effort you put into it. Seth Godin

Close letter words and terms