{"id":587516,"date":"2021-07-09T18:06:47","date_gmt":"2021-07-09T22:06:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=587516"},"modified":"2021-07-09T18:06:49","modified_gmt":"2021-07-09T22:06:49","slug":"capitalism-without-competition-isnt-capitalism-its-exploitation-biden-signs-another-executive-order-targeting-big-tech","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/capitalism-without-competition-isnt-capitalism-its-exploitation-biden-signs-another-executive-order-targeting-big-tech\/","title":{"rendered":"\u2018Capitalism Without Competition Isn\u2019t Capitalism. It\u2019s Exploitation.\u2019 Biden Signs Another Executive Order, Targeting Big Tech"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcapitalism-without-competition-isnt-capitalism-its-exploitation-biden-signs-another-executive-order-targeting-big-tech%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=587516&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1233895299-e1625867052699.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>On Friday, President Joe Biden signed yet another executive order titled, \u201cExecutive Order on Promoting Competition in the American Economy.\u201d<\/span><\/p>\n<p><span>\u201cToday, I\u2019m going to be signing shortly the executive order promoting competition to lower prices, to increase wages and to take another critical step toward an economy that works for everybody,\u201d Biden <\/span><a href=\"https:\/\/www.cnn.com\/2021\/07\/09\/politics\/biden-big-tech-executive-order\/index.html\"><span>said<\/span><\/a><span> at the White House.<\/span><\/p>\n<p><span>\u201cThe heart of American capitalism is a simple idea: Open and fair competition. That means that if your companies want to win your business, they have to go out and they have to up their game,\u201d Biden said. \u201cLet me be very clear: Capitalism without competition isn\u2019t capitalism. It\u2019s exploitation.\u201d<\/span><\/p>\n<p><span>\u201cWithout healthy competition, big players can change and charge whatever they want and treat you however they want,\u201d Biden continued. \u201cAnd for too many Americans that means accepting a bad deal for things you can\u2019t go without. So, we know we\u2019ve got a problem, a major problem. But we also have an incredible opportunity.\u201d<\/span><\/p>\n<p><span>There are multiple policy areas laid out in the <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/presidential-actions\/2021\/07\/09\/executive-order-on-promoting-competition-in-the-american-economy\/\">order<\/a>.<\/span><\/p>\n<p><span>\u201c<\/span><span>The order seeks to juice competition in broadband by encouraging the Federal Communications Commission to reintroduce a so-called \u2018nutrition label\u2019 for internet service providers that would give consumers more clear information about a provider\u2019s services,\u201d explained <a href=\"https:\/\/www.cnn.com\/2021\/07\/09\/politics\/biden-big-tech-executive-order\/index.html\">CNN<\/a>. \u201cIt calls for the FCC to restrict early termination fees and to ban exclusivity deals that currently limit apartment buildings and other rental units to only one Internet provider.\u201d<\/span><\/p>\n<p><span>The order also directs the FCC to restore \u201cnet neutrality\u201d rules imposed under the Obama administration \u201c<\/span><span>that would prohibit them from selectively blocking, slowing or speeding up websites.\u201d<\/span><\/p>\n<p><span>Looking to rein in Big Tech, the order also \u201cestablishes an administration-wide policy to scrutinize mergers more heavily, including completed mergers.\u201d&nbsp;<\/span><\/p>\n<p><span>\u201cWe have to get back to an economy that grows from the bottom up and the middle out,\u201d Biden said. \u201cThe executive order I\u2019m soon going to be signing commits the federal government to full and aggressive enforcement of our antitrust laws. No more tolerance for abusive actions by monopolies, no more bad mergers that lead to mass layoffs, higher prices, fewer options for workers and consumers alike.\u201d<\/span><\/p>\n<p><span>The order also includes the creation of new rules on data collection and the prohibition of \u201cunfair competition in online marketplaces,\u201d as well as pushing for the \u201cright-to-repair\u201d which would stop technology manufacturers from suing independent repair service providers.<\/span><\/p>\n<p><span>\u201c<\/span><span>This order affirms that it is the policy of my Administration to enforce the antitrust laws to combat the excessive concentration of industry, the abuses of market power, and the harmful effects of monopoly and monopsony \u2014 especially as these issues arise in labor markets, agricultural markets, Internet platform industries, healthcare markets (including insurance, hospital, and prescription drug markets), repair markets, and United States markets directly affected by foreign cartel activity,\u201d the order states. \u201cIt is also the policy of my Administration to enforce the antitrust laws to meet the challenges posed by new industries and technologies, including the rise of the dominant Internet platforms, especially as they stem from serial mergers, the acquisition of nascent competitors, the aggregation of data, unfair competition in attention markets, the surveillance of users, and the presence of network effects.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a<\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span> member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Friday, President Joe Biden signed yet another executive order titled, \u201cExecutive Order on Promoting Competition in the American Economy.\u201d\u201cToday, I\u2019m going to be signing shortly the executive order promoting &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2314391,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1233895299-e1625867052699.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"\u2018Capitalism Without Competition Isn\u2019t Capitalism. It\u2019s Exploitation.\u2019 Biden Signs Another Executive Order, Targeting Big Tech","footnotes":""},"categories":[],"tags":[],"class_list":["post-587516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1233895299-e1625867052699.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"\u2018Capitalism Without Competition Isn\u2019t Capitalism. It\u2019s Exploitation.\u2019 Biden Signs Another Executive Order, Targeting Big Tech","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/587516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=587516"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/587516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2314391"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=587516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=587516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=587516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}