" The Perils of Success"

It's not that our democracy doesn't work; it's that it works only too well. American politics is now hyperresponsive to constituents' interests.

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The Perils of Success
Why have our priorities become so mangled? Several decades ago, economist Mancur Olson wrote a book called The Rise and Decline of Nations. He was prompted by what he thought was a strange paradox after World War II. Britain, having won the war, slipped into deep stagnation, while Germany, the loser, grew powerfully year after year. Britain's fall was even more perplexing considering that it was the creator of the Industrial Revolution and was the world's original economic superpower.

Olson concluded that, paradoxically, it was success that hurt Britain, while failure helped Germany. British society grew comfortable, complacent and rigid, and its economic and political arrangements became ever more elaborate and costly, focused on distribution rather than growth. Labor unions, the welfare state, protectionist policies and massive borrowing all shielded Britain from the new international competition. The system became sclerotic, and over time, the economic engine of the world turned creaky and sluggish.



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