As a result, theory is intimidating. One of the most dismaying features of theory today is that it is endless. It is not something that you could ever master, not a particular group of texts you could learn so as to 'know theory'. It is an unbounded corpus of writings which is always being augmented as the young and the restless, in critiques of the guiding conceptions of their elders, promote the contributions to theory of new thinkers and rediscover the work of older, neglected ones. Theory is thus a source of intimidation, a resource for constant upstagings: “What? you haven't read Lacan! How can you talk about the lyric without addressing the specular constitution of the speaking subject?” Or “how can you write about the Victorian novel without using Foucault's account of the deployment of sexuality and the hysterization of women's bodies and Gayatri Spivak's demonstration of the role of colonialism in the construction of the metropolitan subject?” At times, theory presents itself as a diabolical sentence condemning you to hard reading in unfamiliar fields, where even the completion of one task will bring not respite but further difficult assignments. (“Spivak? Yes, but have you read Benita Parry's critique of Spivak and her response?”)

 

The unmasterability of theory is a major cause of resistance to it. No matter how well versed you may think yourself, you can never be sure whether you 'have to read' jean Baudrillard, Mikhail Bakhtin, Walter Benjamin, Helene Cixous, C. l. R. james, Melanie Klein, or Julia Kristeva, or whether you can 'safely' forget them. (It will, of course, depend on who 'you' are and who you want to be.) A good deal of the hostility to theory no doubt comes from the fact that to admit the importance of theory is to make an open-ended commitment, to leave yourself in a position where there are always important things you don't know. But this is the condition of life itself.

 

Theory makes you desire mastery: you hope that theoretical reading will give you the concepts to organize and understand the phenomena that concern you. But theory makes mastery impossible, not only because there is always more to know, but, more specifically and more painfully, because theory is itself the questioning of presumed results and the assumptions on which they are based. The nature of theory is to undo, through a contesting of premisses and postulates, what you thought you knew, so the effects of theory are not predictable. You have not become master, but neither are you where you were before. You reflect on your reading in new ways. You have different questions to ask and a better sense of the implications of the questions you put to works you read.

 

Jonathan Culler, Literary Theory: A Very Short Introduction (Oxford, 1997), pp. 15-16

 

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Few people are likely to bet that the institutional structure of academic literary study will change, but this is because in a world of educational expansion, it was always easier, when challenges arose, to change the paradigm instead. In a world of contraction, though, it may be simpler and more sensible to alter the structure. Literary studies has existed since the 1960s in a heavily professionalized system in which the positions are subsidized, the research is subsidized, the journals and presses that publish the research are subsidized, the libraries that buy the journals and monographs are subsidized, and the audience is increasingly limited to peer specialists. There is no "reality check" on this work because the only reality is the rapidly shrinking profession itself, buoyed up by dollars that will now be disappearing. Almost no one outside the profession cares even to understand what goes on inside it; they will, given a choice, certainly not care to pay for it. The best course for humanities departments to take may be to curtail the system of credentialism and specialization, to end the grip of the professionalist mentality, and to open their doors to the art and ideas, and the people who create them, that have always existed beyond their narrow walls.

 

Louis Menand, “The Demise of Disciplinary Authority”

 

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Yet it is the market itself which produces the effect of cultural capital flight. The professional-managerial class has made the correct assessment that, so far as its 'future profit is concerned, the reading of great works is not worth the investment of very much time or money. The perceived devaluation of the humanities curriculum is in reality a decline in its market value. If the liberal arts curriculum still survives as the preferred course of study in some elite institutions, this fact has everything to do with the class constituency of these institutions. With few exceptions, it is only those students who belong to the financially secure upper classes who do not feel compelled to acquire professional or technical knowledge as undergraduates. The professional-managerial class, on the other hand, many of whose members have only recently attained to middle and upper middle-class status, depends entirely on the acquisition of technical knowledge in order to maintain its status, or to become upwardly mobile.

 

John Guillory, Cultural Capital: The Problem of Literary Canon-Formation (CT 1478a)