All that Glitters: Literature’s Global Economy

Louis Menand~The New Yorker
As long as we want to believe that creative achievement is special, that a work of art is not just one more commodity seeking to aggrandize itself in the marketplace at the expense of other works of art, we need prizes so that we can complain about how stupid they are. In this respect, it is at least as important that the prize go to the wrong person as that it go to the right one.
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This is why I can be okay with the spectacle that is the Academy Awards.