President Joe Biden on Friday signed a new executive order aimed at cracking down on anti-competitive practices in Big Tech, labor and numerous other sectors.
“Capitalism without competition isn’t capitalism. It’s exploitation,” Biden said at the White House in a speech before signing the directive.
The sweeping order, which includes 72 actions and recommendations that involve more than a dozen federal agencies, is intended to reshape the thinking around corporate consolidation and antitrust laws, according to a White House fact sheet.
Those wide-ranging goals and initiatives include:
- Urging the Federal Trade Commission to “challenge prior bad mergers” that previous administrations let slide
- Pushing the FTC to ban occupational licensing restrictions, arguing they “impede economic mobility”
- Encouraging the FTC to ban or limit noncompete agreements
- Encouraging the Federal Communications Commission to restore “net neutrality” rules that…