By Erik Sherman
July 29, 2021
Big tech has been a big issue for politicians on both sides of the aisle. Now it, and some other industries, caught attention from the Biden administration. In July, the White House announced an executive order to promote competition.
A fact sheet from the administration listed many factors that it says have reduced competition, including corporate consolidation, higher prices from fewer competitors in different markets, lower wages with more jobs concentrated among fewer employers, non-compete agreements required to get a job, fewer opportunities for new businesses, and lower median household incomes as a result.
The administration points to 72 planned initiatives by more than a dozen federal agencies “to promptly tackle some of the most pressing competition problems across our economy.”
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