
Thus those who become writers during the time of Modernism often give the impression not of entering a new, higher rentier class (which would be the typical role of the author in the eighteenth and nineteenth centuries) but of giving expression to a certain loss of value, a certain fall from grace. (In contrast, the postmodernists — the Americans, anyway — are largely back in the upwardly mobile position, though at this point they are competing for smaller slices of the cultural capital pie, and those usually attached to positions at major American universities. In this context, Nabokov, who grew up as the child of liberal aristocrats, becomes an impoverished European émigré, moves to the U.S. and gets on the academic-job treadmill, and finally finds himself accidentally a Great American Author and rich and famous culture hero, cuts a particularly interesting figure.)
With these circumstances in mind, I can see why Anglo-American Modernism displays such a cautiously exploratory attitude toward the radical positions of Continental Modernism (Surrealism in particular), which by 1920 had largely accepted that important literature was now the province of either the radical Bohemian fringes or the future Marxist state.
So I think we need (if it doesn't exist already) a financial history of these and other relevant figures: an audit of Modernism, as it were. Who got poorer, who got richer, who was in danger and who was not, and how do these various positions affect their writing?
Yes, this has got me thinking.