This is the key paragraph from Rob Sheffield's Rolling Stone piece, to which I linked up-thread, in which he uses Emerson to argue that Dylan IS a sort-of latter-day Shakespeare, not in quality, necessarily, but in cultural terms:
The best argument for Dylan's Nobel Prize comes from Ralph Waldo Emerson, even though he died a century before Shot of Love. His 1850 essay "Shakespeare; or the Poet," from the book Representative Men, works as a cheat sheet to Dylan. For Emerson, Shakespeare's greatness was to exploit the freedoms of a disreputable format, the theater: "Shakespeare, in common with his comrades, esteemed the mass of old plays, waste stock, in which any experiment could be freely tried. Had the prestige which hedges about a modern tragedy existed, nothing could have been done. The rude warm blood of the living England circulated in the play, as in street-ballads."
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