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Hesse was fascinated with Buddhism and incorporated it into nearly all of his works, most notably Siddhartha, but he did so from a distance and with Nietzsche looming large in his ideological past. If you look at Kundera, perhaps the laureate of nihilism in literature with The Unbearable Lightness of Being, he had metabolized these ideas a bit more, but remained nihilistic and to a degree, misanthropic. Look, then, at one of Kundera's devout followers, Italo Calvino, and in his early work you see the cry of nihilism but also a levity struggling (and in early works like Cosmicomics or Invisible Cities, failing) to get past it. But look at one of his last works (and his best, one of THE best novels of last century, IMO), If on a Winter's Night a Traveller, and you see the humanity and compassion winning out, and the levity overshadowing despair, the lightness of being made quite bearable.
Misanthropy tends to be a trend Hesse follows in many of his works. Narcisuss and Goldmund, Journey to the East, Beneath the Wheel, Siddartha, Rossalde... all wonderful books but with the same theme. They all involve a man (usually young) who's unsure about his identity... and often observes many acts where it almost seems that Hesse's intent was to rustle some feathers and fuel some nihilism.