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7/9/21

Biden Signs Executive Order to Boost Competition in U.S. Economy



President Joe Biden’s new plan to promote competition across industries and in the labor market can deliver long-run gains for the U.S. economy by boosting productivity and wages, economists say. The president announced an executive order on Friday that directs federal agencies to ban or limit non-compete agreements -- which make it harder for workers to switch jobs in search of higher pay -- along with a raft of proposals aimed at barring unfair competition between large and small businesses. While there’s a focus on the technology, agriculture, transportation and drug industries, some of the measures will apply across the economy. The aim is to counter a trend that’s seen market share in many industries become concentrated in a small number of businesses, widening gaps in income and wealth, the administration says. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit https://bloom.bg/2UdVC2M, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://bit.ly/2J5MnQe Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://bit.ly/35epL8Q Instagram: https://bit.ly/32sC5jW


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