Re:Greeks Reject Bailout Terms
by nhaehnle on Monday July 06, 2015 @02:33AM
(#9837176)
States are able to compete economically.
Depending on the economic climate and regulatory environment, this kind of "competition" tends to be a race to the bottom. Those who have even a slight advantage anyway (i.e., the rich) are given concessions such as tax cuts or eroded worker's rights that increase their advantages over time.
The great human project of using technology to lift everyone up equally requires some force against this race to the bottom.
Depending on the economic climate and regulatory environment, this kind of "competition" tends to be a race to the bottom. Those who have even a slight advantage anyway (i.e., the rich) are given concessions such as tax cuts or eroded worker's rights that increase their advantages over time.
The great human project of using technology to lift everyone up equally requires some force against this race to the bottom.