Tweet from NX Thompson, CEO of The Atlantic.
Evaluating the free market by comparing it to the alternatives (We don't need more regulations, We don't need more price controls, No Socialism in the courtroom, Hey, White House, leave us all alone)
Reform can’t happen if the U.S. keeps pretending it didn’t help cripple the institution it’s now eulogizing
"Jamieson Greer’s frustration with the World Trade Organization is understandable, but his op-ed ignores how the U.S. unwisely accelerated the organization’s decline (“Another Fish Story From the WTO,” April 8).
The American middle class has prospered in the era of open trade, and U.S. manufacturing job declines—driven mainly by productivity gains—long predate China’s WTO accession. The U.S. was the WTO’s chief architect and reaped significant economic and geopolitical value from the system. Its retreat, which began before the administration, ignored these realities and instead prioritized U.S. farm subsidies and trade remedies, often resisting the disciplines Washington demanded of others.
Fealty to these and other insular political issues stymied multilateral negotiations and motivated four separate U.S. administrations to neuter the WTO dispute settlement by blocking Appellate Body appointments. Washington’s participation in disputes has also ground to a halt. You can’t complain about the rules of the game after you stop playing and strangle the referee.
Worst of all, the U.S. has been a bad-faith abuser of the rules it helped write, blowing through tariff bindings and invoking narrow WTO exceptions for national security and balance-of-payments crises to maintain President Trump’s global tariff wall.
Mr. Greer is right to decry the WTO’s consensus problem and the abuse of certain rules by other WTO members. The institution does need reform. But members’ continued participation shows the institution isn’t dead. And reform can’t happen if the U.S. keeps pretending it didn’t help cripple the institution it’s now eulogizing.
Clark Packard and Scott Lincicome
Washington
Mr. Packard is a trade policy fellow and Mr. Lincicome is Vice President for Economics and Trade at the Cato Institute."
The agency kills a therapy for melanoma despite the evidence of progress against deadly tumors
WSJ editorial. Excerpts:
"Patients with metastatic melanoma who stop responding to other immunotherapies typically die in less than a year. In Replimune’s trial, tumors shrank in nearly all patients and vanished in one of six. About a third went into remission. FDA staff were so impressed by the results that the agency designated RP1 a “breakthrough therapy” in November 2024 to expedite its review."
"As we’ve reported, Dr. Prasad last summer overruled career staff to reject RP1. The agency’s main criticism was that its trial lacked a control arm, though this would be unethical in late-stage patients who failed to improve on other therapies."
"Start with the claim that the tumor-shrinking effects of RP1 could not be disentangled from that of another immunotherapy that patients were taking concurrently. But all patients had previously relapsed or failed to respond to other immunotherapies. RP1 is intended to help these refractory patients by boosting their response to other therapies."
"cancer in responding patients advanced after a median 30.6 months when they also got RP1, versus 4.4 months of being treated with other immunotherapies."
"The FDA implicitly concedes that the RP1 results are impressive by contriving ridiculous reasons to argue they could be exaggerated."
Gov. Spanberger’s popularity takes a hit as she abandons the center
WSJ editorial. Excerpts:
"Unlike in private industry, collective bargaining in government isn’t adversarial. Public unions sit on both sides of the table since they fund the campaigns of the politicians with whom they “negotiate.” The incentive is to give away the store to union allies"
"Wisconsin Republicans in 2011 ended this cycle by limiting government collective bargaining, which has saved taxpayers some $35.6 billion, according to the MacIver Institute. Studies have also found that the law improved student test scores, in part by allowing schools to pay teachers more for performance."
Teachers get a rich new union contract despite awful student results
WSJ editorial. Excerpts:
The contract "increases salary scales by 11.65% over two years—double the rate of inflation—plus four weeks of paid parental leave and expanded student support services that will invariably require more hiring. Pay for new teachers will jump nearly 12% to $77,000."
"state per-pupil spending has soared in recent years to $27,418"
They will "have a workforce that is larger than when the district had 40% more students than we have today"
"the district and state are required to make payments equal to 30% of teacher salaries for their pensions. Teachers can retire at age 63 with a pension worth 85% of their final pay, plus free health benefits for life."
"Only 18% of Los Angeles eighth-graders scored proficient in math on the National Assessment of Educational Progress, compared to 27% nationwide."
By Mary Anastasia O’Grady. Excerpts:
"Blaming the U.S. embargo for Cuba’s economic disaster has lost its political firepower because the law has been watered down. Today Cuba can buy, with cash, all the food, medicine and construction materials it wants from the U.S. It can get lots of other stuff from the rest of the world."
"Cuba’s economic crisis is caused by a hard-currency shortage. Output from once-vibrant export industries like sugar, tobacco, coffee and fruit can’t even supply the domestic market. Barren agricultural fields are covered in weeds. Manufacturing is gone. Even tourism, which the regime has tried to hype since the 1990s, is in bad shape. Handouts from the Soviet Union, bilateral lenders and Venezuela, which kept the country afloat for decades, are no more."
"Even before January, . . . the monthly Cuban ration book supplied food for less than two weeks."
"If not for remittances, families would suffer even greater privation."
"he cause of the power failures is the antiquated grid which, . . . requires an investment of $8 billion to $10 billion over three to five years."
"new power plants have to be built because the existing ones sit on polluted land."