To the extent that contemporary culture is, by definition, current, it does have a much more immediate impact on students and people in general than do the arts and literature of the past. Contemporaneous events directly affect everyone alive at the time because they are occurring at precisely the same time as the individual's existence. But to paraphrase a famous philosopher: "Those who do not learn from history are doomed to repeat it." To a great extent, past arts and literature shape who we are as people at least as much as, if not more than, contemporary culture does.
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