It's often said (or implied without saying it explicitly) that the works recognized as "Great Literature" are praised mainly for historical reasons only, that contemporary fiction is superior in most ways that matter, in particular because it's better suited to modern values and the way of life, and that it's primarily literary snobbery that stands in the way of a widespread adoption of these attitudes.
This, however, is wrong. Great Literature works survive as such because they prove relevant to every new generation. When they don't, they very quickly become forgotten or relegated to "famous back then, known mostly to scholars nowadays". Great Literature works that retain their high status over many hundreds of years usually have done that by having something relevant to say to every generation in those centuries; sometimes there're gaps of obscurity and then rediscovery, but those are the exception, not the rule.
The reason that the wrong attitude is popular is that people tend not to know or think of once-Great works that fell from the top. They see Shakespeares, but not Ben Jonsons. Ben Jonson was much higher regarded than Shakespeare for about 100 years after both died. His were much Greater works, until in the 18th century people decided they didn't care much for his style anymore and he didn't have much to tell them. There have been many more Ben Jonsons than Shakespeares.
I am sure we could take some great works of the past and turn them into awesome works of the present.
I bet you'd end up with silly-looking, embarrassing pastiches of no lasting value, maybe good for a chuckle or two because of contemporary allusions the readers would recognize.
Pretty much: something is good if it works out of its context. The work of a savannah poet who understands human nature. People do in fact read Dickens, Austen and Shakespeare in the present day for pleasure and not just because it was forced on them at school.
That said, literary canons tend to be retconned from contemporary works of great resonance, as if history were a story that built to a climax rather than shit happening.
From EY's Facebook page, there were two posts that got me thinking about fiction and how to work it better and make it stronger:
I was wondering if we could apply this process to older fiction, Great Literature that is historically praised, and excellent by its own time's standards, but which, if published by a modern author, would seem substandard or inappropriate in one way or another.
Given our community's propensity for challenging sacred cows, and the unique tool-set available to us, I am sure we could take some great works of the past and turn them into awesome works of the present.
Of course, it doesn't have to be a laboratory where we rewrite the whole damn things. Just proprely-grounded suggestions on how to improve this or that work would be great.
P.S. This post is itself a work in progress, and will update and improve as comments come. It's been a long time since I've last posted on LW, so advice is quite welcome. Our work is never over.
EDIT: Well, I like that this thread has turned out so lively, but I've got finals to prepare for and I can't afford to keep participating in the discussion to my satisfaction. I'll be back in July, and apologize in advance for being such a poor OP. That said, cheers!