Branko Milanovic on the Big Questions of Economics

The Makioka Sisters by Jun'ichirō Tanizaki is a classic Japanese novel that follows the lives of four sisters from a once-wealthy Osaka family as they navigate the challenges of tradition, family obligations, and personal desires in the years leading up to World War II. The story focuses on the family's efforts to marry off the sisters, particularly Yukiko, while dealing with the societal changes and personal struggles of the time.

Published in 1866, 'Crime and Punishment' is a psychological novel set in St. Petersburg, Russia. It revolves around Rodion Raskolnikov, an impoverished and intellectually gifted former student who formulates a theory that some individuals are morally justified in committing crimes for the greater good of society. Raskolnikov puts this theory to the test by murdering an old pawnbroker and her half-sister, leading to a profound exploration of his psychological and emotional struggles with guilt, paranoia, and the consequences of his actions. The novel delves into socio-economic disparities, moral dilemmas, and the psychology of criminals, making it a classic of Russian literature and existential thought.

Set in 19th-century Russia, 'The Brothers Karamazov' is a novel that delves into the lives of the Karamazov family, focusing on the three brothers—Dmitri, Ivan, and Alyosha—and their complex relationships with their father, Fyodor Pavlovich Karamazov. The novel is a murder mystery, a courtroom drama, and an exploration of erotic rivalry, faith, doubt, and reason. It examines the human psyche, moral dilemmas, and the search for meaning in a world fraught with suffering and uncertainty. The story revolves around the murder of Fyodor Pavlovich and the subsequent trial of Dmitri, accused of the crime, while exploring deeper themes of Russian life, social and spiritual striving, and the clash between faith and reason.

In 'Capitalism, Alone', Branko Milanovic explores how capitalism has become the sole economic system worldwide, examining its varieties, such as liberal meritocratic capitalism and political capitalism. He discusses the challenges and moral implications of capitalism, emphasizing the need to improve it for a more equitable future. The book delves into the competition between different capitalist models, notably between the U.S. and China, and their implications for global development.

The novel, set during December 1949, takes place in a sharashka near Moscow, a research facility where prisoners, including scientists and engineers, work on secret projects for the Soviet government. The story follows characters like Lev Rubin, Dimitri Sologdin, and Gleb Nerzhin as they navigate the complexities of their privileged yet oppressive environment. The title alludes to Dante's 'Inferno,' where the first circle of Hell is limbo, reflecting the relatively better conditions but moral limbo of the prisoners. The novel delves into themes of conscience, moral imperative, and the struggle to retain human dignity within a totalitarian system. Solzhenitsyn's work is semi-autobiographical, drawing from his own experiences in the gulag system.

Forever Flowing is a powerful novel that depicts the devastating impact of Stalin's regime on the lives of ordinary people, exposing the brutality and suffering inflicted upon them.