Abstract:

With globalization, the circulation of goods, services and capital between countries has been liberalized and world economies have become more integrated with each other. In addition, the ever-increasing technological development brings countries closer to each other. The labor market has become more and more affected by the global system it is in. This transformation is of a holistic nature. While the labor markets of the countries in the global system sometimes benefit from this global interaction and change, sometimes they suffer losses. Thus, the increasing globalization and competitive environment has dragged the countries of the world into a race towards the bottom in terms of labor. The phenomenon of "race to the bottom", which means lowering the labor force standards, is referred to as "race to the bottom" in the foreign literature The main purpose of the study is to examine the transformation process in the labor market within the scope of the race to the bottom in labor standards. For this purpose, the study focuses on the basic economic problem of “race to the bottom”. In the first part of the study, global system and labor standards are included, in the second part the concept of race to the bottom is explained. In the last part, the relationship between labor standards and international trade is discussed. Technological progress and increasing competitive pressure in the globalizing system caused the capital in developed countries to gain strength on a global scale, while causing the labor force in underdeveloped and developing countries to make concessions from their rights. Key Words: Race to the Bottom, International Labour Standards, Labor Markets, Globalization JEL Classification: F13, F16, F53

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