Biden Stakes Out Position in Debate Over Power of Big Companies

 Biden Stakes Out Position in Debate Over Power of Big Companies

Behind President Biden’s executive order seeking to curb the power of companies that dominate their markets is a body of academic research that finds the U.S. economy has become less competitive in the past two decades as power swells in large firms.

The decline in competition has had big implications for the broader economy, this research finds, including fewer thriving startup companies, a less-dynamic job market, stagnant worker wages and restrained economywide productivity.

Democrats have responded by making boosting competition a key part of their agenda. Mr. Biden’s executive order encourages U.S. agencies to push back against corporate consolidation and business practices that might stifle competition across a range of industries, from Big Tech to airline baggage fees. Republicans and some conservative economists, meanwhile, point to studies casting skepticism on the degree of consolidation and…

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