Likewise, it makes no sense for regions or provinces in any nation to compete against one other for jobs and investment; such races only further strengthen the hand of global capital and reduce the bargaining power of the nation. These contests don't produce net new jobs or investment but only move the jobs and investments from one locale to another and should be prohibited by federal law.
Similarly, the EU could be a bargaining agent for its citizens if it were to condition access to its hugely valuable market on paying taxes in proportion to a global corporation's EU earnings, as well as making investments (including research and development, and jobs) in similar proportion. As a member of the EU, Britain would have more bargaining leverage than it would if it bargained separately. Hence, an important reason for Britain to remain in the EU: rather than a race to the bottom, the UK would thereby join in a race to the top.
Any move toward enhancing the power of nations or groups of nations relative to global corporations and wealthy individuals would surely provoke fierce resistance. Corporate-financed lobbyists, lawyers, political operatives, media empires, campaign donations, thinktanks and the potential lures of lucrative jobs and directorships awaiting high government officials will all be deployed in opposition.
This doesn't make the goal of countervailing the power of global capital any less important. It just makes it difficult to achieve.
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