Joseph Epstein makes the case for a Literary Education in this 2008 lecture (approx 40 min):

   
http://www.isi.org/lectures/lectures.aspx?SBy=search&SSub=title&SFor=A%20Literary%20Education

He believes a Literary Education teaches a number of things including 'how astonishing reality' is and also 'the limits of the intellect'. Given the number of literary refererences in his argument you may get the best out of this if you already have a Literary Education which makes it a little self-serving IMHO. I guess it works for novelists.

Bio from the website:

   Joseph Epstein was born in 1937 in Chicago, and attended the public
   schools there and, later, the University of Chicago. He is the
   author of, among other books, Fabulous Small Jews, Snobbery,
   Friendship, Narcissus Leaves the Pool, and In a Cardboard Belt! His
   most recent book, Fred Astaire, will be published in September by
   Yale University Press as part of its American Icons series. Mr.
   Epstein taught in the Department of English at Northwestern
   University for thirty years. He was the editor of The American
   Scholar, the intellectual quarterly of Phi Beta Kappa, between 1974
   and 1997. His essays and short stories have appeared in The New
   Yorker, Commentary, The Atlantic, The Weekly Standard, The Hudson
   Review, and other magazines. His work has been translated into
   French, Spanish, Italian, Hebrew, Chinese, and Japanese. He is
   currently working on a book Houghton Mifflin on the subject of Gossip.

It doesn't seem that a Ph.D was required, btw, and none of his works were recommended for our 10 Best... However, that the intellect may be limited is a good reason to want to make a selection in life, be it one's Bucket List or one's reading list.

What's curious is that he believes we get a better feel for reality and human nature by reading novels ( = made up stuff). I definitely wouldn't want to draw conclusions too strongly about life, the intellect or the mind that is based on the fictional behavior of fictional characters.

Thanks
Robert C

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