Charles Calomiris has a splendid WSJ review of a great book, "The Myth of American Inequality" by by Phil Gramm, Robert Ekelund and John Early. It is a "'a truth universally acknowledged,' according to the Economist magazine in 2020" that little progress has been made in raising average American living standards since the 1960s; that poverty has not been substantially reduced over the period; that the median household’s standard of living has not increased in recent years and inequality is currently high and rising Most of all the last one. All of this is false. Most of all the last...