The junk-bond era has also spawned something that calls itself New Historicism. This seems to be a refuge for English majors without critical talent or broad learning in history or political science. To practice it, you must apparently lack all historical sense.

Summary

This quote criticizes the academic field of New Historicism, calling it a refuge for English majors who lack critical talent and knowledge in history or political science. It suggests that practitioners of New Historicism lack a sense of history and engage in shallow analysis. The term "junk-bond era" is used metaphorically to imply that New Historicism is a flawed and unreliable approach to understanding literature and culture. Overall, the quote conveys a dismissive and disdainful perspective towards New Historicism as an academic discipline.

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