Limiting Non-compete Agreements to Benefit Workers

The Federal Trade Commission voted to ban non-compete agreements to enhance job flexibility and earnings. The U.S. Chamber of Commerce and other entities are trying to block it. The ban could increase worker earnings by $488 billion over a decade and spawn over 8,500 new businesses yearly. Exceptions may exist for senior executives. Non-compete agreements essentially transfer wealth from workers to shareholders by reducing the need for competitive wages.