Former U.S. Sen. Phil Gramm discusses his book The Myth of American Inequality: How Government Biases Policy Debate, which he co-authored with statistician John Early and economist Robert Ekelund.

The book details how faulty government data has led to a massive misperception about wealth and poverty in the U.S.

The Myth of American Inequality won the 2024 Hayek Book Prize awarded by the Manhattan Institute.

In politics, Phil Gramm served three terms in the U.S. House of Representatives, initially as a Democrat, and later as a Republican. He was elected to the U.S. Senate in 1985 and retired from office in 2002.

Before entering politics, Phil Gramm taught economics at Texas A&M University.