Race to the bottom
Is this term used by people who are just frightened by competition?
I have never heard it used by small shop owners or others that are used to competing in a completely open market. I have heard it used by people in sectors where there is, or has been, a limit on supply or very high demand over the last few years (e.g. solicitors and doctors) or in sectors where there has been price fixing on the supply side (e.g. trades covered by registered trade [price fixing] agreements, heavily unionised semi-state monopolies etc).
I never heard anyone talk about a race to the bottom when multinational companies were laying people off in the USA and moving their jobs to Ireland because we were cheaper yet when the same companies do the same thing to their Irish operations they are somehow unethical and greedy. How is this not a double standard?
Are those who scream race to the bottom really asking for one way protectionism in one of the most open economies in the world? Have any of these people actually thought through the consequences of what they are asking for?
Is this term used by people who are just frightened by competition?
I have never heard it used by small shop owners or others that are used to competing in a completely open market. I have heard it used by people in sectors where there is, or has been, a limit on supply or very high demand over the last few years (e.g. solicitors and doctors) or in sectors where there has been price fixing on the supply side (e.g. trades covered by registered trade [price fixing] agreements, heavily unionised semi-state monopolies etc).
I never heard anyone talk about a race to the bottom when multinational companies were laying people off in the USA and moving their jobs to Ireland because we were cheaper yet when the same companies do the same thing to their Irish operations they are somehow unethical and greedy. How is this not a double standard?
Are those who scream race to the bottom really asking for one way protectionism in one of the most open economies in the world? Have any of these people actually thought through the consequences of what they are asking for?