Asserting that capitalism without competition has no meaning, US President Joe Biden has signed an executive order aimed at promoting competition among companies to lower prices and increase wages. Biden said his executive order includes 72 specific actions. “I expect the federal agencies to help restore competition so that we have lower prices, higher wages, more money, more options, and more convenience for the American people," he said. In his executive order, Biden directed a whole-of-government effort to promote competition in the American economy. “That's just one of many actions in the executive order that will lower prescription drug prices," he said.

Source: Mint July 10, 2021 02:03 UTC