We investigate the dynamics of the classical Euler buckling instability of
compressed objects such as flexible molecular chains and thin rods moving i
n a viscous medium. We find that flexible chains undergo a coarsening proce
ss self-similar in time. They develop a wavelike pattern whose amplitude an
d wavelength grow in time. We relate the buckling dynamics to phase orderin
g phenomena. The role of the order parameter here is played by the chain sl
ope with respect to the straight initial chain configuration.