The Literary Marketplace

Abstract

What is the literary marketplace, and what is the relationship between literature and the marketplace? The decades since the end of World War II have seen enormous changes in the economics of literary production: the book trade has grown, consolidated, and globalized; chain bookstores have replaced independent booksellers; and technological advancements have transformed how books are produced and how readers shop for, acquire, and read them. With these changes, questions about how the literary marketplace has mattered to literary history have been asked with increasing urgency, and the histories of those institutions that engage in producing, distributing, and selling literature have received increasing amounts of scholarly attention. Where the market was once understood to be a kind of implacable antagonist to literature, and literature once defined by virtue of its opposition to, and essential difference from, goods that are mass-produced, today the fields of book history, the sociology of literature, and literary studies itself frequently highlight the marketplace as a producer of modern and contemporary literature and—for better or worse—as a necessary context for it. What caused this shift, and what are its implications for literary study and for the idea of literature itself? How is a marketplace devoted specifically to the rarefied category of literature distinguished from the book trade generally, and how might one distinguish literature from nonliterature when both are produced by the same set of mostly commercial institutions? Answers to these questions depend in large part on the evolving, and surprisingly elusive, concept of a “literary marketplace” itself.