Question

What is the race to the bottom scenario? Reference

Answer 1

A race to the bottom reflects an unbalanced condition in which there's a surplus of labor relative to work.

After the quantity of work is less than the workers, each worker will lessen their wages ready till they process the poverty level or less.

In the long run, the buyer of labor makes all of the gain, and all workers starve.

It's simple economics because each worker is made to underbid another because the outcome of losing the bidding for work means no earnings.

As time passes the wages only fall farther after each round of wage conclusion since each round contributes to reduced wages.

Simple bulletproof economics, the drawback of capitalism because all of the wealth goes to the company owners. The workers efficiently make nothing a presence less