Jed Esty, a literary critic, and Matt Seyb discuss the impact of defunding humanities academia, the flourishing culture industry, Eurozone Debt Crisis, funding and distribution mechanisms, and potential futures of disruption and declinism in the podcast.
The crisis in higher education stems from austerity measures and the declining power of the US, highlighting the need for alliances with the sciences and addressing privatization and corporatization of education.
Perception of decline in English and literary studies contradicts the vibrant culture of criticism found in podcasts, YouTube, and digital publications, urging for a more inclusive and collaborative approach to overcome the crisis.
Ponzi austerity in the form of privatization, automation, and lack of financial support hinders scholarly collaboration in the humanities, emphasizing the need for funding and structures that promote conversation and visualize the value of the field.
Deep dives
The Crisis of Higher Ed and Literary Criticism
The podcast explores the crisis in higher education, emphasizing the need to understand it as a crisis of higher ed rather than a crisis of literary criticism. The material crisis is discussed as a result of austerity measures and the declining power of the US. The conversation touches on the importance of forming alliances with the sciences and addressing the privatization and corporatization of education. It also raises the point that acknowledging America's decline in power can lead to a shift in the country's ideology and an opportunity for change.
The Perception of English and Literary Studies
The podcast examines the perception that English and literary studies, especially associated with legacy publications like The New Yorker and The New York Times, are on the decline. The discussion highlights the disconnect between this perception and the vibrant culture of criticism found in podcasts, YouTube, and digital publications. It suggests that the conflicts within literary studies, such as the canon wars and method wars, have become the shared text that unifies the field, but also urges for a more inclusive and collaborative approach to overcome the crisis.
Ponzi Austerity and the Dismantling of Public Education
The podcast delves into the concept of Ponzi austerity, which refers to the redistribution of public funds to private capital and the dismantling of public education. It discusses the privatization and automation of educational institutions, the prioritization of STEM fields over the humanities, and the lack of financial support for collaboration and co-authorship in the field of literary studies. The episode highlights the need for structures and funding that promote scholarly collaboration, foster conversation, and help visualize the value and contribution of the humanities.
The Paradox of Declinism and the Power of Narratives
The podcast episode explores the concept of decline and how it manifests in different fields, including literary and cultural studies. The conversation highlights the contradiction between narratives of decline and the actual facts of decline. Decline narratives are driven by economic conditions but often float free from these conditions, shaping people's beliefs and behaviors. The episode argues that literary and cultural studies have a crucial role in studying and understanding belief structures and narrative forms that shape perceptions of decline. By bridging the gap between real facts and powerful narrative structures, literary and cultural studies can provide a deeper understanding of the complex dynamics at play in society.
Rewiring National Purpose in the Face of Change
Another important theme discussed in the podcast is the need for intellectual structures to respond to the challenges of the post-2008 moment and the changing global landscape. The episode suggests that American intellectual structures should focus on rewiring a sense of national purpose and destiny. Rather than ceding patriotism to the right or center, there is a call to reconfigure what greatness means by emphasizing the importance of producing a functional society instead of pursuing world hegemony. This mission requires rethinking national narratives and recognizing the need to invest in intellectual institutions to support the development of new ideas and perspectives.
How has the systemic defunding and deprofessionalizing of humanities academia impacted literary criticism? Why is there such a flourishing culture industry if demand for cultural education is supposedly declining? We look to megatrends like U.S. hegemony, organizations like the MLA (6:30), analogues like the Eurozone Debt Crisis (19:30), mechanisms of funding and distribution (28:00), and potential futures of disruption and declinism (1:01.30).
Cast (in order of appearance): Jed Esty, Matt Seybold, Anna Kornbluh, Christopher Newfield, Yanis Varoufakis
Soundtrack: Joe Locke's "Makram"
For episode bibliography, please visit MarkTwainStudies.com/PonziAusterity, or subscribe to our newsletter at TheAmericanVandal.SubStack.com, where you will also receive episode transcripts.
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