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‘World literature’ has several distinct meanings. Most important for the present study, it may refer to the products of increased interaction across literary traditions in a globalized political economy. The resulting ‘global literature’ involves extensive convergence in narrative practices. The result is a diminishing of cultural diversity in storytelling. Globalization may also lead to certain sorts of divergence. This may seem to partially counterbalance the convergence. However, in an unequal, global economy, divergence is most often guided by hegemonic cultural practices, even if this occurs negatively. Specifically, such divergence commonly operates through identity-based repudiation of global standardization with a consequent simplification and distortion of putatively indigenous traditions. Thus, in unequal global conditions, both convergence and divergence have the effect of reducing the diversity of narrative cultures. In consequence, the globalization of literature may have deleterious effects on the aesthetics - and indeed the ethics and politics - of narrative. The essay ends with some possibilities for reversing this trend.

World Literature, Globalization, and The Loss Of Stories: On the Political Economy of Narrative Today