A NEW REVIEW OF: OLSON’S ‘THE RISE AND DECLINE OF NATIONS: ECONOMIC GROWTH, STAGFLATION, AND SOCIAL RIGIDITIES

Abstract

This short review re-explores the work of Mançur Olson. It takes a critical look at it by looking at key aspects of the study on the issues of guild practices and monopoly. It suggests that the overall idea that was explored by the author is not very different from Ibn Khaldun’s theory of decadence (asabiyyah and the seeds of decadence).