03/19/2014 11:01 am ET Updated May 19, 2014

Politics-Proof Economies?

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Michael Spence is a Nobel Laureate in economics. David Brady is deputy director and senior fellow at the Hoover Institution and professor of political science at Stanford University.

From Project Syndicate

There is little correlation between a country's relative economic performance in several dimensions and how "functional" its government is. In fact, in the six years since the global financial crisis erupted, the U.S. has outperformed advanced countries in terms of growth, unemployment, productivity and unit labor costs, despite a record-high level of political polarization at the national level.

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