Biden Fixing Uneven, Unfair Economic Policies
On Friday, July 9, 2021, "President Biden signed a sweeping executive order..intended to increase competition within the nation’s economy and to limit corporate dominance, factors the White House says have led to higher prices and fewer choices for consumers while dampening pay and restricting the freedom to change jobs."
Mr. Biden noted that “What we’ve seen over the past few decades is less competition and more concentration that holds our economy back..rather than competing for consumers, they are consuming their competitors. Rather than competing for workers, they’re finding ways to gain the upper hand on labor.”
This order synchs to several issues we identified in Amicus Briefs filed in Federal appeals and lower courts:
September, 2018 - Amicus Brief in Net Neutrality Case (18-cv-1051) https://www.prlog.org/12729944-william-michael-cunningham-files-amicus-brief-in-net-neutrality-case-18-cv-1051.html
As we noted in that brief, eliminating net neutrality lowers income for African Americans, given increasing cost of service and this group's initial lower (than non-African Americans) levels of disposable income. Biden's executive order makes the same argument.
August, 2012 - Amicus Brief in SEC vs. Citigroup (2nd Cir Ct of Ap) https://www.prlog.org/11782028-william-michael-cunningham-files-friend-of-the-court-brief-in-sec-vs-citigroup-2nd-cir-ct-of-ap.html
In this brief, our economic analysis concluded that "markets have become less stable. Faulty regulatory practices and collusion (too big to fail, etc.) have moved regulators and lawmakers..in the direction of supporting suppliers to the financial service marketplace. A decision by the (Appeals) Court in favor of the SEC and Citigroup will further weaken this support, to the detriment of market institutions and the public." Again, Biden's executive order makes many of the same arguments.
As we noted on January 20th, we applaud this Administration’s fast start and look forward to supporting their efforts.." This order goes a long way toward fixing uneven, unfair and wealth concentrating economic policies.