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Biden cracks down on big tech


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  • Chamberlain

President Joe Biden has signed an executive order aimed at cracking down on big tech firms and promoting competition.

The move points to Mr Biden's desire for tougher scrutiny of Big Tech, which the administration has accused of "undermining competition".

"Capitalism without competition isn't capitalism. It's exploitation," Mr Biden said at Friday's signing event.

The order includes 72 actions and recommendations involving ten agencies.

It suggests that problems have arisen because of large tech firms collecting too much personal information, buying up potential competitors and competing unfairly with small businesses.

Several recommendations it sets out include:

   -  Greater scrutiny of mergers in the tech sector

   -  New rules to be set out by the Federal Trade Commission (FTC) on data collection

   -  Barring unfair methods of competition on internet marketplaces.

The Biden administration is also targeting a number of other sectors with the order.

It encourages other government agencies to take action to improve competition across healthcare, travel and agriculture.

Once fully implemented, it would allow hearing aids to be sold over the counter, for example, as well as the ban of early exit fees from internet contracts. It also intends to make it easier for consumers to claim refunds from airlines.

"For decades, corporate consolidation has been accelerating," the fact sheet released by the White House says, describing the order as "a whole-of-government effort to promote competition in the American economy".

Mr Biden said that the order seeks to limit the use of "non-compete agreements" as a condition of getting a job, which he claimed can make it harder for people to change jobs and therefore limits wages.

The executive order alone, however, does not mean these recommendations will come into force immediately.

The government agencies responsible will need to implement the changes, while some elements could be subject to court challenges.

More:

https://www.bbc.com/news/business-57783824

 

 

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Biden is someone who's ideology does not sit well with average Americans .... he's essentially a socialist  ... he is coming out with some socialist policies/programmes  a lot of Americans see socialism as communism, in Europe we have a system of social fairness and many conservative governments buy into this because culturally wise Europe is very different from America ... i don't know if opinions are changing in America but it seems to be popular amongst the younger generation .... i'm not entirely sure where Canada sits in this but i wouldn't be surprised if Canada sits between America and Europe when it comes to the cultural philosophy of your average Canadian   

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