Mohamed El-Erian, a Bloomberg Opinion columnist, says the distribution effects of the current credit contraction will unfortunately hit small businesses harder than big businesses during an interview with Jonathan Ferro on "Bloomberg The Open." El-Erian's opinions are his own. Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness/ Instagram: https://www.instagram.com/quicktake/?hl=en