Competition is keeping prices down, but only for the wealthy. Meanwhile, the cost of goods commonly used by those at the lower end of the income ladder keep rising thanks to corporate consolidation and the quest for profits.
Non-compete clauses are bad for workers and bad for the economy. Full stop.
Source: Welcome developments on limiting noncompete agreements: A growing consensus leads to new state laws, a possible FTC rule making, and a strong bipartisan Senate bill | Economic Policy Institute
Companies hiring instead of investing in productivity-aiding technology because people are easier to fire than machines are to discard is some amoral rationale.
It’s not much and for the year we’re still in the black, but productivity took a hit last quarter. Also, can we stop with the idea that productivity gains allow for companies to raise wages? Because that’s demonstrably what’s not happening right now.
My money says the next crisis will come when lending to individuals slows to a trickle while credit is still readily available to businesses.