Much of the mainstream media seemed to gush over President Joe Biden’s executive order (EO) ramping up regulation of American business. Headlines claimed the order would “tackle corporate abuses” (Reuters), “boost competition ‘across the board’” (CNBC), crack “down on anticompetitive economic practices” (CBS News), and launch an “assault on monopolies” (Politico).
A Washington Post headline was the most candid, calling this a “battle over who holds power in [the] U.S. economy.” Spoiler alert: Consumers won’t win.
Despite his claims to the contrary, Biden’s policies won’t increase competition or innovation and won’t protect consumers or workers. Instead, they will tilt the economy toward larger businesses via heavier government control.
Read Dr. Jamison’s complete blog post at AEI.