Look up "race to the bottom", a term that describes lose-lose situations resulting from rational market dynamics.
But, of course, there's no law of nature saying that we have to organise our society according to "rational" market dynamics. Many writers (famously Adam Smith) have opined on the subject.
alt Hacker News
But, of course, there's no law of nature saying that we have to organise our society according to "rational" market dynamics. Many writers (famously Adam Smith) have opined on the subject.