No the Times isn’t getting comics, but they are taking a cue from the New Yorker by adding a graphic novel-type comics section to the Sunday magazine. Everybody’s been saying for years that “graphic novels” are on the cusp of taking the book world by storm. Is this a step in that direction? The first artist to appear will be, you guessed it, Chris Ware. Get the gory details here.
The New York Times ‘Funny Pages’
Dealing Another Hand of Liar’s Poker
Three and a half years ago in some brief comments on Michael Lewis’ seminal memoir of Wall Street in the 1980s, Liar’s Poker, I noted,While the period that Lewis chronicles is interesting in its own right, its impact is somewhat diminished by the many corporate scandals and Wall Street improprieties that have occurred since the book was first published. Against this backdrop, Liar’s Poker is no longer an exceptional story that defined an era, it is merely another moment in the cycle of Wall Street corruption and ensuing retribution that continues today.In a remarkable piece for Portfolio magazine this week, Lewis revisits Liar’s Poker amid the wreckage of Wall Street and readily admits that the book now seems “quaint,” tragically so:I thought I was writing a period piece about the 1980s in America. Not for a moment did I suspect that the financial 1980s would last two full decades longer or that the difference in degree between Wall Street and ordinary life would swell into a difference in kind. I expected readers of the future to be outraged that back in 1986, the C.E.O. of Salomon Brothers, John Gutfreund, was paid $3.1 million; I expected them to gape in horror when I reported that one of our traders, Howie Rubin, had moved to Merrill Lynch, where he lost $250 million; I assumed they’d be shocked to learn that a Wall Street C.E.O. had only the vaguest idea of the risks his traders were running. What I didn’t expect was that any future reader would look on my experience and say, “How quaint.”And:In the two decades since then, I had been waiting for the end of Wall Street. The outrageous bonuses, the slender returns to shareholders, the never-ending scandals, the bursting of the internet bubble, the crisis following the collapse of Long-Term Capital Management: Over and over again, the big Wall Street investment banks would be, in some narrow way, discredited. Yet they just kept on growing, along with the sums of money that they doled out to 26-year-olds to perform tasks of no obvious social utility. The rebellion by American youth against the money culture never happened. Why bother to overturn your parents’ world when you can buy it, slice it up into tranches, and sell off the pieces?In the long piece, Lewis posits, convincingly, that the obit for Wall Street that he wrote more than twenty years prematurely is finally relevant, though rendered absurd by the cataclysmic collapse.The essay is a must read. In it he profiles a few who will, when the dust eventually settles, be known as – not the heroes; there are no heroes – the ones who saw it coming. And at the end he sits down with the legendary Gutfreund, whose career Liar’s Poker ruined, for the first time since Lewis left Solomon Brothers back in the 1980s.Kottke also highlighted the Lewis article today and he points out that this essay is likely material (along with several others Kottke points to) for a forthcoming book that Lewis intends to write about the death of Wall Street as we knew it. There’s little doubt that this new book will be the obit that Liar’s Poker was meant to be.
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David Brooks and Pop-Intellectualism
This morning’s David Brooks column has reinvigorated my long-running discomfort with pop-intellectuals. “We’re entering an era of epic legislation,” his column begins. “There are at least five large problems that will compel the federal government to act in gigantic ways over the next few years.” The bold assertion is a classic move of the pop-intellectual, who I think of as one who puts forth an idea as a new idea while lacking expertise in the field in which that idea would carry weight. The blending of disciplines is also a tell-tale pop-intellecual trait, and in the opening of his column, Brooks presents as a historian, a sociologist, and a political scientist, even though he is in fact none of the above.One thing I always think about when I read pop-intellectuals like Brooks or Malcolm Gladwell (if Brooks is prince of the practice, Gladwell is king), is the shift over the last couple centuries or so from lay intellectualism to professional intellectualism (I’m not an intellectual historian and I don’t know exactly where to date it – in my mind the the change took place concurrently with the the rise of method, around about the time of Darwin). Two hundred years ago it was good enough to be a well-educated citizen with a ruminative soul and you could write with authority about anything – philosophy, history, the natural world. Now to be taken seriously on any of those topics, to be seen as adding to our store of knowledge, you have to have a PhD and work in a university. In part, the change is due to the overall increase in knowledge – it required less learning to be an expert in mathematics a hundred years ago than it does now – but more than that, the change reflects the modern insight that learning shaped by disciplines simply produces better knowledge.Journalists like Brooks and Gladwell can still add value by bringing academic discoveries to the public, but books like Bobos in Paradise and Blink make me cringe for the lack of rigor with which they synthesize anecdotes to produce new ideas. The problem is not so much the content, benign as it usually is, but the methods. Brooks’ column, for example, actually promotes a tendency opposite of the one he intends. It makes people less effectively thoughtful, not more.
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Amazon Spends Millions on Beedle the Bard
Amazon has locked down a rare piece of Harry Potter ephemera far a tidy sum.We’re incredibly excited to announce that Amazon has purchased J.K. Rowling’s The Tales of Beedle the Bard at an auction held by Sotheby’s in London. The book of five wizarding fairy tales, referenced in the last book of the Harry Potter series, Harry Potter and the Deathly Hallows, is one of only seven handmade copies in existence. The purchase price was £1,950,000 [$3.93 million], and Ms. Rowling is donating the proceeds to The Children’s Voice campaign, a charity she co-founded to help improve the lives of institutionalized children across Europe.The Tales of Beedle the Bard is extensively illustrated and handwritten by the bard herself–all 157 pages of it. It’s bound in brown Moroccan leather and embellished with five hand-chased hallmarked sterling silver ornaments and mounted moonstones.Since this is a particularly difficult volume to get one’s hands on, and since there are likely many curious Potter fans out there, Amazon has offered up a special review of the book, along with images from its pages. (Thanks, Laurie)Update: Yes, it turns out this happened in December. So: old news, but new to me, and perhaps to you too.
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Changes at the Book Review
A quote from Steven Erlanger, the cultural editor of the New York Times on the changes afoot at the Book Review: “To be honest, there’s so much s—. Most of the things we praise aren’t very good.” This, I suppose, is a rather blunt way of saying that things are changing at one of the most influential and widely used repositories of book reviews in the world. (Imagine that: people using book reviews. More on that later.) The charge leveled against the Book Review by its new keeper is that it has become formulaic in its style and perhaps a bit arcane in choosing which books to review. First to go will be the lengthy reviews of literary fiction, which will be replaced by an increased focus on non-fiction and popular, or mass-market, fiction. Furthermore, a concerted effort will be made to publish reviews that are more controversial with hopes, ultimately, of injecting enough hurly-burly into the Book Review that people will flock to see the literary wars waged on its pages. This practice of intentionally soliciting vicious, opinionated reviews in order to draw publicity and readership to a publication is probably almost as old as the book review itself, but recently, as the reviews have become more outrageous, the backlash has become louder. Early in 2003 the people behind McSweeney’s rolled out The Believer, a magazine more or less dedicated, as outlined in Heidi Julavits opening piece in the first issue, to combating the pointlessly mean review. The results have been mixed, but they continue to fight the good fight, even maintaining a “Snarkwatch” on their website. Yet the “snarkiness” has continued unabated. Last spring all of literary Britain was up in arms over Tibor Fischer’s unceremonious dressing down of Yellow Dog, a new novel by one of Britain’s favorite sons, Martin Amis. The review, which appeared in the Telegraph, was entitled “Someone needs to have a word with Amis” and included the line “I won’t tell you anything about the contents of Yellow Dog, but what I will tell you is that it’s terrible.” (LINK) Then, last summer a truly offensive review of Chuck Klosterman’s Sex, Drugs, and Cocoa Puffs was penned by a gentleman named Mark Ames for a publication called NYPress. This review included the line, “I cannot ever recall reading a book as toxic, disingenuous and stupid as Klosterman’s new collection of essays.” (LINK) Ultimately, the review served its purpose, and, as it made the rounds via email and blogs, Ames and the NYPress put their names on the map. And now the New York Times Book Review is joining the fray, straddling that blurry line between entertainment and information; strange bedfellows indeed. There is certainly nothing wrong with trying to engage your readers nor is there anything wrong with entertaining them or titillating them so long as it is done within the framework of advising the reader on the merits or deficiencies of a particular book while at the same time taking on the responsibility of being the first word on a book whose ultimate importance has yet to be determined. The New York Times Book Review is a household name, but, until I worked in the bookstore, I had no idea how many people use the Book Review, really use it. They walk into the store clutching clipped reviews like life preservers in a sea of books, trusting that those reviews will not let them drown. If book reviews don’t serve that purpose first, what purpose could they possibly serve. For more on the topic, check out this column at Poynter Online.
The Shop Around the Corner
How does an independent bookshop not only survive, but remain vital amid the encroaching chains? How does a tightly-knit community bolster its authors in a cut-throat industry? Independent bookshop owner Heidi Hallett has tackled both these issues by doing what the best independent shopkeepers do – opting for the intimate, the local.As this recent Globe and Mail article explains, Hallett’s Halifax bookshop, Frog’s Hollow, has its fortunes interwoven with that of her community. By hosting book launches and in-store author appearances of regional scribes, Hallett keeps her dream alive: “Local literature is a vital part of our culture here, and I am concerned that if more independent bookstores like mine start going under, we risk losing that history and heritage forever.”
Gourevitch and the Paris Review
Initially I found yesterday’s announcement of Philip Gourevitch’s hiring as editor of the Paris Review to be odd. I know him best for his journalism in the New Yorker and his much praised works of non-fiction, We Wish to Inform You That Tomorrow We Will be Killed With Our Families and A Cold Case, but he didn’t seem to have the proper pedigree to head a magazine that is so prominent in its championing of short fiction. However, a look at the press release accompanying the announcement reveals that “Gourevitch holds an M.F.A. in fiction writing from Columbia University, and has published a number of short stories in literary quarterlies. He worked as cultural editor of the Forward in the early nineties, before turning to writing full time,” which would indicate that he does indeed have experience both as a writer of fiction and an editor. Beyond that, perhaps from his experience with the New Yorker, Gourevitch may have inkling of what it takes to make an unabashedly highbrow publication both a critical and financial success. Many were dismayed, or at least apprehensive, when former editor Brigid Hughes was forced out, but I think that Gourevitch’s appointment should leave Paris Review devotees cautiously optimistic. For more details and background on Gourevitch, visit Galley Cat.