On Friday, July 9, 2021, President Biden issued Executive Order 14036, Promoting Competition in the American Economy, spelling out 72 initiatives by more than a dozen federal agencies in an aim to address competition issues across the economy. The Administration’s view is that the current trend of corporate consolidation requires a whole-of-government approach to drive down prices for consumers, increase wages for workers, and facilitate innovation. The executive order also creates a White House Competition Council, consisting of multiple agencies and the Secretary of Labor, in order to coordinate a cross-agency response to unfair competition and cooperate in implementing the executive order. In this issue of Cowden Insights, we concentrate specifically on the executive order’s impact on compensation and labor.
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