The Myth of American Inequality: How Government Biases Policy Debate

A Wall Street Journal Best Book of 2022: Politics

Everything you know about income inequality, poverty, and other measures of economic well-being in America is wrong. In this provocative book, a former United States senator, eminent economist, and a former senior leader at the Bureau of Labor Statistics challenge the prevailing consensus that income inequality is a growing threat to American society. By taking readers on a deep dive into the way government measures economic well-being, they demonstrate that our official statistics dramatically overstate inequality. Getting the facts straight reveals that the key measures of well-being are greater than the official statistics of the country would lead us to believe. Income inequality is lower today than at any time in post- World War II America. The facts reveal a very different and better America than the one that is currently described by policy advocates across much of the political spectrum. The Myth of American Inequality provides clear and convincing evidence that the American Dream is alive and well.

ISBN-13: 9781538167380

Media Type: Hardcover

Publisher: Rowman & Littlefield Publishers - Inc.

Publication Date: 09-15-2022

Pages: 264

Product Dimensions: 5.90(w) x 9.00(h) x 1.00(d)

Phil Gramm served six years in the US House of Representatives and eighteen years in the US Senate where he was Chairman of the Banking Committee. Gramm is a Visiting Scholar at the American Enterprise Institute. He was Vice Chairman of UBS Investment Bank and is now Vice Chairman of Lone Star Funds. He taught Economics at Texas A&M University and has published numerous articles and books. Gramm lives in the Helotes, Texas.Bob Ekelund is currently professor and eminent scholar in economics (emeritus) at Auburn University, beginning his career at Texas A&M University. He is the author of more than 20 books and several hundred articles on the history of economic theory, economic history and economic policy in the specific areas of art, religion, and regulation. He lives and works in Auburn, Alabama.John Early is a mathematical economist who began working as a legislative assistant to a US Senator and assistant commissioner at the Bureau of Labor Statistics. He has served in senior leadership positions in global consultancies on quality and financial performance and as chief customer and strategy officer for a Fortune 100 company. His publications include improving measurements of price change, labor force dynamics, and improving healthcare. He lives joyfully in Charleston, South Carolina.

Table of Contents

Preface Chapter 1: Every Official Measure Understates America’s Wellbeing Chapter 2: Inequality in Producing and Consuming in America Chapter 3: Poverty in America Chapter 4: Trends Chapter 5: Causes of Earned Income Inequality Chapter 6: Measures of Wellbeing Chapter 7: Super Rich Chapter 8: Mobility Chapter 9: Fifty Years of Growth Chapter 10: Solutions Bibliography Appendices About the Authors