Universities are the cathedrals of the modern age. They shouldn't have to justify their existence by utilitarian criteria.
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Paraphrase, in the sense of summary, is as indispensable to the novel-critic as close analysis is to the critic of lyric poetry. The natural deduction is that novels are paraphrasable whereas poems are not. But this is a false deduction because close analysis is itself a disguised form of paraphrase.