Columns and struts are structural members subjected to compression that are relatively long compared to their lateral dimensions. They can fail due to buckling or crushing. Euler's theory provides a formula for calculating the buckling load of a long column based on its effective length, modulus of elasticity, and moment of inertia. However, this theory is only valid for long columns. The Rankine-Gordon formula provides a more accurate calculation of failure load for all column types by taking into account both buckling and crushing stresses.