Can Poetry Matter?

From Dana Gioia's 1991 article:

...the poetry boom has been a distressingly confined phenomenon. Decades of public and private funding have created a large professional class for the production and reception of new poetry comprising legions of teachers, graduate students, editors, publishers, and administrators. Based mostly in universities, these groups have gradually become the primary audience for contemporary verse. Consequently, the energy of American poetry, which was once directed outward, is now increasingly focused inward. Reputations are made and rewards distributed within the poetry subculture. To adapt Russell Jacoby's definition of contemporary academic renown from The Last Intellectuals, a "famous" poet now means someone famous only to other poets. But there are enough poets to make that local fame relatively meaningful. Not long ago, "only poets read poetry" was meant as damning criticism. Now it is a proven marketing strategy.

Continued here.