|1.||race to the bottom|
The current push by businesses to drive down the standard of living in America, as a result of businesses fighting to sell there products at the lowest possible cost in the marketplace. In order to achieve the lowest cost workers pay and benefits are reduced or eliminated. Wal-mart leads this race.
The race to the bottom is underway as the factory worker was fired and will have to take a job with 1/2 the pay of his former job.