We seek to engage in this article the current debate in memory studies regarding the definition and nature of the phenomenon of collective memory. Using the controversy over Dow Chemical Corporation’s sponsorship of the London Olympic stadium in 2012 as an example, we theorize memory as inherently logical—that is, as necessary to the maintenance of the overarching logics that govern the political and economic forms of a given society. We suggest that physical memory, or memory manifested in material, spatial objects such as architecture, plays an important role in both inciting remembrance and encouraging forgetfulness. We also make a case for distinguishing between three facets of memory: memory as a collective phenomenon, memory as an individual phenomenon, and the interface between the two where shifts in the processes of remembering and forgetting are made possible. In making this case, we synthesize theories of collective memory with a theory of political critique.