- July 16, 2021
- Posted by: Stratford Team
- Category: Business
On July 9, 2021, President Biden issued an Executive Order “Promoting Competition in the American Economy” directing federal agencies to create frameworks intended to support competition between various businesses. While many people agree that both capitalism and competition are good things, how to achieve the appropriate balance can be the subject of some debate as we will likely see in the coming months.
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President Biden has indicated that this order is intended to benefit small businesses, farmers, and others by creating “more choices among suppliers and major buyers, leading to more take-home income, which they could reinvest in their enterprises.” For everyone, consumers in particular, “… it means more choices, better service, and lower prices.”
While the order requires robust enforcement of various antitrust laws, there are other components as well. The order directs various federal agencies which are charged with…