Biden’s new decree: Non-competitive capitalism is exploitation

Biden, who made evaluations before signing the said decree, said that America is in the middle of a historic economic recovery.

Biden stated that the successful vaccination program and rescue package brought the economy out of the worst crisis, and that they were on their way to the highest economic growth performance in 40 years.

Underlining that they can continue to support families, small businesses, state and local governments to overcome the ups and downs on the road to economic recovery, Biden said that they will make progress by ensuring long-term growth in the second phase of their strategy once the economy is back on track.

Recalling that he said during the election campaign that he would bring fair competition back to the economy, Biden said, “There is a simple idea at the heart of American capitalism: open and fair competition.” said.


Noting that they have seen less competition in recent years, Biden said, “Instead of competing for consumers, they consume their competitors. Instead of competing for workers, they find ways to gain an edge over labor.” he said.

Emphasizing that the lack of competition causes prices to rise and workers suffer, Biden said that as competition decreases, businesses do not feel the pressure to invest in innovation or workforce, which harms working families and the economy.

Expressing that the basic American idea of ​​real capitalism based on open and fair competition was lost over time, Biden said, “Capitalism without competition is not capitalism, it is exploitation.” made its assessment.

Biden stated that the decree he signed was committed to the federal government’s full and aggressive enforcement of antitrust laws.


The decree in question includes regulations to encourage competition in areas such as the labor market, health, transportation, internet, technology and banking.

The decree aims to limit “unnecessary” professional license requirements that hinder economic mobility, facilitate job change and help increase wages.

The executive order, which includes regulations for the Department of Justice and the Federal Trade Commission (FTC) to scrutinize mergers that leave fewer options for small businesses and to urge corporations to strictly enforce antitrust laws, addresses the FTC’s competition concerns over large tech companies and deals with noncompetitive deals It aims to have it publish rules to prohibit or limit it.

With the decree, it is planned to implement regulations that will make it easier for consumers to change banks, reduce the prices of prescription drugs, strengthen farmers and increase their incomes.

Source: STAR.COM.TR by

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