Antipoverty group Oxfam International got a lot of attention for claiming this week that there’s a global “inequality crisis,” but a far more important point is entirely neglected: globally, income distribution is less unequal than it has been for 100 years. The best data on this comes from Professor Branko Milanovic, formerly of the World Bank, now at City University of New York. His research shows that, mostly because of Asia’s incredible growth, global inequality has declined sharply for several decades, reducing so much that the world hasn’t been this equal for more than a century...