Biden executive order pressures Big Business to reform

Let’s face it: Average Americans wake up every morning in dread at industry’s ability to make their lives a little more costly and a little more painful.

On Friday, President Biden took aim at how businesses from cable TV firms to airlines to drug companies to cellphone makers push the little guy around.

Biden formally announced and signed what has been titled an “Executive Order on Promoting Competition in the American Economy.” The phrase barely hints at the breadth of the order’s 72 recommendations and directives, or their potential to rebalance the relationship between industry and consumers.

For decades, corporate consolidation has been accelerating …. That lack of competition drives up prices for consumers.

Biden administration fact sheet

The order’s key target is the quasi-monopolistic behavior of consumer companies, which have been permitted by tolerant antitrust enforcers and indulgent…

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