After Covid-19 hit, The Economist reported that global inequality was rising again, and that the median household’s standard of living has not increased throughout the years. We have long heard the same statistics from our government and organizations such as the OECD. But what if the statistics are not as they seem? Economist and former Senator Phil Gramm writes that “Public policy, the role of government, and ultimately our freedom and happiness depend on knowing the facts.” It is for this reason he co-wrote The Myth of American Inequality, which argues that the true poverty rate is less than 3% and the disparity between top and bottom earners is four to one rather than 16 or 18 to one. Gramm represented Texas in the U.S. House (1979-1985) and the U.S. Senate (1984-2002) where he served as the chairman of the Senate Banking Committee. He taught economics for 12 years at Texas A&M University before entering politics. Join us for lunch at the Fort Worth Club on Monday, February 27 for this discussion on economics with Senator Gramm.
About the Speaker:
The Honorable Phil Gramm has been vice chairman of Lone Star Global Acquisitions since December 2012 and served as vice chairman of UBS Investment Bank from 2002-2011. Gramm served six years in the U.S. House and 18 years in the U.S. Senate, where he served as chairman of the banking committee, steering through legislation modernizing banking, insurance, and security laws. Senator Gramm is a nonresident senior fellow at the American Enterprise Institute. He holds a Ph.D. from the University of Georgia in economics, a subject he taught at Texas A&M for 12 years.
About the Moderator:
Craig Goldman is a Texas State Representative of District 97, which encompasses southwest Tarrant County. Representative Goldman won his first term in 2012. He is a 5th generation Texan and 4th generation native to Fort Worth. Prior to running for political office, he and his father ran a retail gourmet food and wine store in Fort Worth. Representative Goldman was appointed to serve on the Sunset Advisory Commission in 2019 and will expire in 2023. He currently serves as Chairman of the House Committee on Energy Resources and is a member of the House Committees on Licensing and Administrative Procedures and Redistricting.
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