[Book Reviews/Analysis.] Dostoevsky’s classic novel,”The Brothers Kazamarov”, really goes to heart of what this website is about. Faith versus reason. Ancient assumptions, articles of faith, (and sometimes prejudicial ones at that) versus what can be discerned through rational, objective and scientific analysis based on an objective determination of the facts. In contrast to the often incredible, if not fanciful, assumptions of blind faith, the rational process preferred by this website, first and foremost requires true-blue fact-finding. Here, we eschew a lot of reliance on faith (Dostoevsky’s moral reservations notwithstanding) and attempt to take a rational look at the economic, political and social world. In a real sense, Rao’s Solution, by David Dixon Lentz, takes the preferred method of this website and uses it to illustrate that totally unregulated free markets will always widen wealth gaps, and push society, almost inevitably to oligarchy if not outright monopoly where all wealth (and political power) will be controlled by one or two super-powerful persons or firms. Karamazov is a truly great classic novel. Rao, however, is superior to Karamazov in several critical respects. First, it directly addresses today’s problem with a widening wealth wage and wealth gap. Secondly, it alerts, the reader to an inherent flaw in classical free market economics (namely, the tendency of unregulated free markets to monpoly) and, finally, it suggests an important step towards a solution to the first two problems! And, all in a book that is designed for today’s busy multi-tasking audience. In short, it’s easier and more fun to read !
[Editor’s note: Rao’s Solution does not endorse communism or any other particular political ideology but merely sheds light on what its author perceives to be the inevitable and dangerous consequences of a totally unregulated free market system.]