The latest Harper's offers a lengthy essay on the effect of neo-liberal philistinism on the humanities.
In our time, orthodoxy is economic. Popular culture fetishizes it, our entertainments salaam to it (how many millions for sinking that putt, accepting that trade?), our artists are ranked by and revered for it. There is no institution wholly apart. Everything submits; everything must, sooner or later, pay fealty to the market; thus cost-benefit analyses on raising children, on cancer medications, on clean water, on the survival of species, including—in the last, last analysis—our own. If humanity has suffered under a more impoverishing delusion, I’m not aware of it.

That education policy reflects the zeitgeist shouldn’t surprise us; capitalism has a wonderful knack for marginalizing (or co-opting) systems of value that might pose an alternative to its own. Still, capitalism’s success in this case is particularly elegant: by bringing education to heel, by forcing it to meet its criteria for “success,” the market is well on the way to controlling a majority share of the one business that might offer a competing product, that might question its assumptions. It’s a neat trick. The problem, of course, is that by its success we are made vulnerable. By downsizing what is most dangerous (and most essential) about our education, namely the deep civic function of the arts and the humanities, we’re well on the way to producing a nation of employees, not citizens. Thus is the world made safe for commerce, but not safe.
When the humanities get into trouble, the strongest non-instrumental arguments in their defense are the arguments from tradition.
The humanities, done right, are the crucible within which our evolving notions of what it means to be fully human are put to the test; they teach us, incrementally, endlessly, not what to do but how to be. Their method is confrontational, their domain unlimited, their “product” not truth but the reasoned search for truth, their “success” something very much like Frost’s momentary stay against confusion.

They are thus, inescapably, political. Why? Because they complicate our vision, pull our most cherished notions out by the roots, flay our pieties. Because they grow uncertainty. Because they expand the reach of our understanding (and therefore our compassion), even as they force us to draw and redraw the borders of tolerance. Because out of all this work of self-building might emerge an individual capable of humility in the face of complexity; an individual formed through questioning and therefore unlikely to cede that right; an individual resistant to coercion, to manipulation and demagoguery in all their forms. The humanities, in short, are a superb delivery mechanism for what we might call democratic values. There is no better that I am aware of.

This, I would submit, is value—and cheap at the price. This is utility of a higher order. Considering where the rising arcs of our ignorance and our deference lead, what could represent a better investment? Given our fondness for slogans, our childlike susceptibility to bullying and rant, our impatience with both evidence and ambiguity, what could earn us, over time, a better rate of return?
Yes, but that requires scholars to adhere to some rules of construction, in order to draw coherence out of confusion.  It's difficult to establish a cutting-edge reputation that way.
English departments have pretty much given up on their mission of preserving a literary canon or teaching poetic form and rhetorical strategies.  Decades ago, politics of race, class, and gender overtook any concern for preserving and perpetuating poetic art.  In fact, to claim that there is such a thing as Literature was to align oneself with the right-wing Imperialists.
That is, at least until the enrollments fall, and enrollment-driven budgets shrink.  "Here is the bitter reality that the MLA won't face - professors have been killing their market with all of their ideological zealotry and quirky tangents."  Indeed.

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