The Logic of Collective Action: The Anatomy of Late Capitalism

This article provides an in-depth analysis of the mechanisms governing the contemporary economy through the lens of Mancur Olson's theory. The author deconstructs the public goods paradox, demonstrating that rational individual behavior within interest groups leads to systemic inefficiency. The key concept is 'institutional sclerosis' – the process by which mature democracies become overgrown with networks of distributive coalitions. These groups, seeking political rents, effectively stifle innovation and creative destruction, which in turn leads to stagflation and demand barriers. The text sheds new light on the Olson cycle, tracing the path from post-war reconstruction to a stage of advanced decision-making paralysis. This analysis is essential for understanding the asymmetry of incentives in late capitalism and for exploring paths toward more inclusive economic models.