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Formalism emerged in Russia and Poland
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Moscow Linguistic Circle was founded by Roman Jakobson. This started to make Formalism more popular among scholars in the field of literary criticism.
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In St. Petersburg Russia, the society for the Study of Poetic Language (OPOJAZ) was founded by Boris Eichenbaum, Viktor Shklovsky, and Yury Tynyanov.
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Lev Jakubinsky's "On the Sounds of Poetic Language" explains what poetic language is all about (how to read and understand it).
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Viktor Shklovsky talks about defamiliarization in his famous essay "Art as Technique". Defamiliarization is presenting common information to people in unfamiliar and new ways that causes them to take a step back and look at it from a new perspective
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New Criticism was the dominant trend until the 1960's
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Roman Jakobson's "On Realism in Art" talks about literariness and how even in the midst of the snowfall we can still pay attention to literariness
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Eichenbaum's "The Theory of The 'Formal Method'" essay provides and economical overview of the approach formalists used and taught to others
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Polish Formalism took concrete shape as a Polish Formalist school
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William K. Wimsatt and Monroe Beardsley published and essay "The Intentional Fallacy" which later became a watershed text in the development of New Criticism
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Methods of New Criticism were questioned and in the wake of their downfall literary theory has never had as unified a system of literary analysis as it did during New Criticism
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Formalism begins to fall out of favor among scholars