Published 3 years ago

The Importance of Competition for the American Economy

Summary by Ground News

Healthy market competition is fundamental to a well-functioning U.S. economy, say Heather Boushey and Helen Knudsen. They say there is evidence that markets have become more concentrated and perhaps less competitive across a wide array of industries. President Biden will sign an Executive Order on Promoting Competition in the American Economy today.

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The Importance of Competition for the American Economy

By Heather Boushey and Helen Knudsen Healthy market competition is fundamental to a well-functioning U.S. economy. Basic economic theory demonstrates that when firms have to compete for customers, it leads to lower prices, higher quality goods and services, greater variety, and more innovation.[1] Competition is critical not only in product markets, but also in labor…

3 years ago·Washington, United States

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