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Simple English definitions for legal terms

Race to the bottom

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A quick definition of Race to the bottom:

Term: Race to the bottom

Definition: When people or groups try to win by giving up more and more, it can lead to bad things happening. This is called a race to the bottom. Sometimes, governments try to get more businesses by making things easier for them, like letting them pay less taxes or treat their workers worse. But this can hurt the workers and the economy in the long run.

Related terms: Protectionism, Free trade

A more thorough explanation:

Definition: A situation where parties compete with each other to achieve a desired outcome by making bigger and bigger concessions. This can lead to negative consequences that may not be noticed until it is too late to change course. Some people believe that a race to the bottom happens when governments try to attract businesses by lowering labor standards or corporate taxes.

  • Two companies are competing for a contract to build a new bridge. Company A offers to do the job for $10 million, but Company B undercuts them and offers to do it for $9 million. Company A then lowers their price to $8 million, and the bidding war continues until one of the companies wins the contract but has to cut corners to make a profit.
  • A country wants to attract foreign investment, so they lower their corporate tax rate to 5%. Other countries in the region see this and lower their rates to 4%, then 3%, and so on. Eventually, the tax rates are so low that the government can't afford to provide basic services like healthcare and education.

In both of these examples, the parties involved are competing with each other to achieve a desired outcome. However, in doing so, they are making bigger and bigger concessions that can have negative consequences. In the first example, the winning company may have to cut corners to make a profit, which could lead to a poorly built bridge. In the second example, the government may not be able to provide basic services because they have lowered their tax rates too much.

Race statute | Race-notice statute

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shaquilleoatmeal
15:50
what^^
shaquilleoatmeal
15:50
no way
HopefullyInLawSchool
15:50
2 next year
glovediedthisishismom
15:50
google it shaq some dude got his degree in prison and is now at nw
HopefullyInLawSchool
15:50
Bro is studying to beat the charges
shaquilleoatmeal
15:52
While representing himself in court, McKinley's sentence was reduced from 100 years to 25, a sentence he served in full. While still incarcerated, he took the LSAT, or Law School Admission Test, and applied to law school - no shit, thats impressive how much he lowered his sentence being pro say
JumpySubsequentDolphin
15:52
@HopefullyInLawSchool: that made me lol
babycat
15:52
there was a convicted rapist admitted to some southern law school not too long ago
shaquilleoatmeal
15:53
smh
glovediedthisishismom
15:53
fun fact gangs specifically have all their shooters be 12-16 year olds so they can go to juvee and get their charges sealed like nothing happened
shaquilleoatmeal
15:56
yo, what should i pick up for dinner?? Cava or Sweetgreen
glovediedthisishismom
15:56
sweetgreen
glovediedthisishismom
15:56
i wish i had one close to me
babycat
15:56
shaq how did your date with Uber girl go?
soyalmondoatmilk
15:57
OMG I LOVE SWEETGREEN
shaquilleoatmeal
15:57
lmaooo oh man i gotta find a way to make a long story short - sg it is ! What do you guys usually get? I'm tired of my same old same old
soyalmondoatmilk
15:57
i love the harvest bowl
soyalmondoatmilk
15:57
their salmon is good too
shaquilleoatmeal
15:58
@babycat: you gonna be on later tonight? i gotta get home, shower, and then I can hop back on and give you the break down lmao
shaquilleoatmeal
15:58
i dont know how much i trust salmon from quick take out spots so i've never tried it there. Harvest bowl is OG and always good for when you need a quick decision
soyalmondoatmilk
15:59
that's so fair. i love their roasted sweet potatoes and spicy cashew dressing--highly recommend
babycat
16:00
@shaquilleoatmeal: I’ll stop by just for you. I gotta grind out some of my last essays tn.
shaquilleoatmeal
16:02
@soyalmondoatmilk: im weak af, can't handle that spicy cashew lmao
shaquilleoatmeal
16:03
@babycat: 😘 see you in a bit, grind out those essays before you hop back on
shaquilleoatmeal
16:04
appreciate the non wink since you didn't appreciate it them then lol
babycat
16:06
I'll do it for you ;)
16:06
Tough to justify attending a law school where the admissions office does epic resistance political commentary at the info session
BulbasaurNoLikeCardio
16:07
making me feel jealous here wow, I am about to go taste test a bunch of deserts for our baby shower this weekend.
BulbasaurNoLikeCardio
16:07
@milktoast: what school got political at an info session?
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