[Mohamed A. El-Erian] America’s partisan peril undermines economy
Dec 16, 2013
NEWPORT BEACH, California ― The United States’ reputation for sound economic policymaking took a beating in 2013. Some of this was warranted; some of it was not. And now a related distorted narrative ― one that in 2014 could needlessly undermine policies that are key to improving America’s economic recovery ― is gaining traction.The 2008 global financial crisis left the U.S. economy mired in a low-level equilibrium, characterized by sluggish job creation, persistently high long-term and youth un