This book covers the period from Oscar Wilde to the most recent literary writing. It presents a coherent and accessible historical account of the major phases of twentieth-century British and American criticism, from 'decadent' aestheticism to feminist, deconstructionist and post-colonial theories. Special attention is given to new perspectives on Shakespearean criticism, theories of the novel and models of the literary canon, enabling more detailed study of the literary developments in these important areas. Unlike most guides to modern literary theory, its focus is firmly on developments within the English-speaking world.