Compare object instances for equality by their attributes

I have a class MyClass, which contains two member variables foo and bar:

class MyClass:
    def __init__(self, foo, bar):
        self.foo = foo
        self.bar = bar

I have two instances of this class, each of which has identical values for foo and bar:

x = MyClass('foo', 'bar')
y = MyClass('foo', 'bar')

However, when I compare them for equality, Python returns False:

>>> x == y
False

How can I make python consider these two objects equal?