A Pulitzer Prize Winning Take on Finance
Digest
Hernan Diaz, author of the Pulitzer Prize-winning novel "Trust," delves into the world of finance during the 1920s, exploring the abstract nature of capital and the complexities of human relationships within this system. The novel features four distinct narrators, each offering a unique perspective on the life of a Wall Street tycoon and his role in the 1929 crash. Diaz emphasizes the importance of multiple voices in challenging assumptions and engaging readers. He discusses his extensive research process, drawing inspiration from historical figures like Benjamin Franklin and Herbert Hoover, as well as his own leftist upbringing and the influence of his father's ghost. Diaz also highlights the joy of writing and the importance of finding one's own voice, sharing his admiration for writers like Lillian Ross and Joan Didian. He acknowledges the challenges of engaging readers in the current attention economy, where distractions are abundant, and expresses concern about the future of literature. Diaz's multilingual background, encompassing Spanish, Swedish, and English, has shaped his writing style and his deep appreciation for the English language's lexical wealth.
Outlines
Exploring "Trust": A Novel of Financial Capitalism
This chapter introduces Hernan Diaz's novel "Trust," a Pulitzer Prize-winning work that delves into the world of finance during the 1920s. The novel features four different narrators who offer conflicting perspectives on the life of a Wall Street tycoon and his role in the 1929 crash.
The Abstraction of Finance and the Artistry of Capital
Diaz discusses his choice of finance as the backdrop for his novel, highlighting its abstract nature and the removal of human labor from the process. He compares financiers to artists, focusing on the process rather than the outcome.
Historical Research, Personal Influences, and the Power of Multiple Voices
Diaz shares his extensive research process, reading works from Benjamin Franklin to Herbert Hoover to understand the historical context of his novel. He also discusses the influence of his leftist parents and his father's ghost, which inspired a character in the book. He explains the unique structure of "Trust," featuring four distinct voices that shift perspectives and time periods. He emphasizes that this structure is not a gimmick but a deliberate choice to engage the reader and challenge their assumptions.
The Future of Reading in the Attention Economy
Diaz acknowledges the challenges of engaging readers in the current attention economy, where competing distractions are abundant. He expresses concern about the future of literature and its ability to provide a unique experience of time.
Keywords
Financial Capitalism
An economic system where financial institutions and markets play a dominant role in the allocation of capital and resources. It emphasizes the accumulation of wealth through financial instruments and transactions.
Abstraction
The process of removing specific details or concrete elements from a concept or idea, focusing on its general principles or underlying structure. In finance, abstraction refers to the removal of human labor and tangible goods from the process of capital accumulation.
Multiple Voices
A narrative technique that utilizes different perspectives and voices to tell a story. This allows for a more complex and nuanced understanding of events and characters, challenging the reader's assumptions and encouraging critical engagement.
Attention Economy
A contemporary economic model where attention is a scarce resource, and businesses compete for it. This has implications for the consumption of content, as individuals are bombarded with information and distractions, making it challenging to focus on a single text.
Lexical Wealth
The richness and diversity of a language's vocabulary, encompassing a wide range of words, phrases, and expressions. English is known for its lexical wealth, incorporating words from various languages and cultures, making it a highly expressive and adaptable language.
Q&A
How does the novel "Trust" challenge traditional narratives about wealth and power?
"Trust" challenges traditional narratives by focusing on the abstract nature of finance and the role of powerful individuals in shaping economic systems. It also explores the complexities of human relationships and the impact of wealth on individual lives.
What is the significance of the novel's multiple voices?
The multiple voices in "Trust" create a multi-layered narrative that challenges the reader to question their assumptions and consider different perspectives on the same events. This structure encourages critical engagement and a deeper understanding of the characters and their motivations.
How does Diaz's personal background influence his writing?
Diaz's upbringing in a leftist family and his father's political beliefs have influenced his exploration of power dynamics and the impact of ideology on individual lives. His multilingual background also informs his writing style and his appreciation for the nuances of language.
What are the challenges facing literature in the current attention economy?
The attention economy presents challenges for literature as it competes with a constant stream of distractions and information. This makes it harder for readers to dedicate time and focus to engaging with complex texts, potentially impacting the future of literary consumption.
Show Notes
In honor of what is for many people the final days of summer, the New Yorker Radio Hour team presents a conversation that may inspire your end-of-summer reading list: David Remnick talks to Hernan Diaz about his book, Trust, which won a Pulitzer Prize in 2023. The novel’s plot focuses on the daughter of eccentric aristocrats after she marries a Wall Street tycoon of dubious ethics during the Roaring Twenties. The novel is told by four people in four different formats, which offer conflicting accounts of the couple’s life, the tycoon’s misdeeds, and his role in the crash of 1929. “What I was interested in, and this is why I chose finance capital, I wanted a realm of pure abstraction,” he tells David Remnick. Diaz’s first book, In The Distance, will be released in hardback for the first time in October.
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