This paper revisits the 'race to the bottom' in international labour law, in light of new developments in evolutionary and epistemic game theory and considering new empirical findings on the economic effects of labour rights. Accordingly, it explores two solutions to this collective action problem not previously analysed in labour law literature: ‘indeterminate play’ and the ‘correlating device’; and it shows how these solutions relate to international trade law and international labour law. Moreover, a new perspective is offered, according to which international labour law and international trade law can be complementary in fostering global cooperation on labour regulation, and in supporting development efforts. Through a novel characterisation of global labour governance according to three game theoretical models, this study ultimately highlights the importance of freedom of association and collective bargaining in enhancing cooperation among states and promoting processes by which countries' social and economic development can be incrementally raised.