Biden Says Competition Order to Restore ‘Heart’ of Capitalism
- Administration invokes past presidents who battled trusts
- Executive order asks for new regulations in sweeping review
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President Joe Biden signed an order to expand competition across the economy and crack down on monopolistic practices, describing a misguided 40-year “experiment” in letting U.S. corporations consolidate with little regulation that he said has hurt ordinary Americans.
The order targets three industrial sectors where his administration believes consolidation has led to higher prices -- agriculture, technology and drugs.