Are novels a waste of time in today’s data-driven world?


  • English
  • Arabic

I can’t remember when I didn’t know how to read. It must have been a struggle, because I know I struggled to learn French and Latin, back when I was young and my brain was flexible enough to learn new things. Then, years later, when I attempted to learn Arabic, I was reminded of why they say old dogs can’t learn new tricks: my brain simply couldn’t handle another language. Learning to read reminds me a bit of learning to ride a bike, albeit without the danger of skinned knees. You wrestle to decode those mysterious marks on the page just as you struggle to keep your balance on two wheels. You despair that you’ll ever get the hang of it. And then suddenly it all clicks, and there you are, gliding effortlessly along the pavement – or the page. When I studied Arabic I never got to the gliding stage; I didn’t get much past “kitab” and “bab.”

But perhaps I should say e-kitab, given the pervasiveness of e-readers? I e-read reluctantly. I prefer the heft and solidity of actual books, which to me are touchstones, repositories of memory. I can’t imagine rereading an e-book, for example, but when my older son was reading Frank Herbert’s Dune, I read along with him in the battered paperback edition I’ve had since my grandfather bought it for me in an airport bookstore when I was about 11. The book reminds me of that moment, that place. It’s hard to imagine my Kindle ever evoking anything other than “low battery”.

As I read Dune this time, though, I also saw in my mind’s eye the vastness of the Empty Quarter and Herbert’s saga of a desert people dreaming of a greener landscape brought to mind Abu Dhabi’s cityscape, where black water hoses curl like beneficent snakes around the base of every tree and every flower bed. In the act of rereading, my past and present merged with the words on the page.

When I ask my students what they see in their minds as they read, however, I am increasingly met with blank stares. Many of my students grew up without reading much fiction; one student told me that his teachers told him novels were “a waste of time.” Increasingly, it seems, that’s the attitude that pervades education systems around the world: the “Common Core” curriculum being adopted in the US, for instance, lists more non-fiction than fiction as required reading, and uses an algorithm to quantify the “complexity” of fiction – with the result that The Hunger Games gets deemed more complex than The Sun Also Rises.

What will happen to our powers of imagination if non-fiction takes priority in primary and secondary schools? Are novels a “waste of time” because they don’t contain practical information that can be easily quantified? It seems to me that we live in a world that is complex and ambiguous, and where emotions frequently ride roughshod over intellect. Where better to find the tools to manage the complexity and nuance of the modern world if not by immersing ourselves in stories that resist easy answers and simplistic resolutions? Good novels give us the opportunity to connect with lives different from our own and thus develop the muscles of our imaginations. Without strong, flexible imaginations, we go through life as if we’re riding bikes with flat tyres. We can get where we’re going, but it’s a lot more difficult.

My friends tease me about my belief in the power of fiction to change lives, but I am nevertheless always on the lookout for fellow believers. Happily, I found some like-minded people at the Abu Dhabi International Book Fair last week, in the Book Salon hosted by the Sea of Culture Foundation, which is under the patronage of Sheikha Rowda bint Mohammed bin Khaled Al Nahyan. The Sheikha has said that she hopes the Foundation’s Book Salon will “instil a passion for literature, the arts and knowledge in the UAE”. I was lucky enough to be included in the list of writers who spoke at the Book Salon’s English-language sessions, hosted by Sheikha Shaikha bint Mohammed bin Khalid Al Nahyan. As one of the speakers, I got to share ideas and conversation with a lively and varied audience – people for whom fiction is clearly not a “waste of time”.

The Book Salon won’t change people’s opinions overnight but sharing and celebrating the power of fiction seems like an important step. Now if the schools would just follow suit …

Deborah Lindsay Williams is a professor of literature at NYU Abu Dhabi. Her novel The Time Locket (written as Deborah Quinn) is now available on Amazon

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

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The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”