"We come too late to say anything which has not been said already," lamented La Bruyère at the end of the 17th century. The fact that he came too late even to say this (Terence having pipped him to the post back in the 2nd century BC) merely proved his point – a point which Macedonio Fernández took one step backwards when he sketched out a prequel to Genesis. God is just about to create everything. Suddenly a voice in the wilderness pipes up, interrupting the eternal silence of infinite space that so terrified Pascal: "Everything has been written, everything has been said, everything has been done." Rolling His eyes, the Almighty retorts (doing his best Morrissey impression) that he has heard this one before – many a time. He then presses ahead with the creation of the heavens and the earth and all the creepy-crawlies that creepeth and crawleth upon it. In the beginning was the word – and, word is, before that too.

In his most influential book, The Anxiety of Influence (1973), Harold Bloom argued that the greatest Romantic poets misread their illustrious predecessors "so as to clear imaginative space for themselves". The literary father figure was killed, figuratively speaking, through a process of "poetic misprision". TS Eliot had already expressed a similar idea in 1920, when he claimed that "Immature poets imitate; mature poets steal; bad poets deface what they take, and good poets make it into something better, or at least something different". Borges (a disciple of Fernández, whom Bloom references) was on the same wavelength (but at the other end of the dial) when he claimed that "each writer creates his precursors".

According to Bloom, this feeling of "secondariness" is not specifically a Romantic phenomenon, but rather the very engine of literary history. Down the centuries, literature has always been a two-way dialogue between past and present – the former living on in the latter; the latter casting new light upon the former. George Steiner thus contends that the highest form of literary criticism is to be found within literature itself: "In the poet's criticism of the poet from within the poem, hermeneutics reads the living text which Hermes, the messenger, has brought from the undying dead" (Real Presences, 1989). This implies that writing is not, primarily, about self-expression, but about reception and transmission; as Winnie the Pooh once put it, with uncharacteristic menace, "Poetry and Hums aren't things which you get, they're things which get you". What is striking here is that Steiner – steeped in the Judaeo-Christian tradition; scourge of Gallic theory – should be in total agreement, on this point, with novelist Tom McCarthy, who comes, as it were, from the other side of the barricades. For the author of C – a novel which is all about fiction as reception and transmission – "the writer is a receiver and the content is already out there. The task of the writer is to filter it, to sample it and remix it – not in some random way, but conscientiously and attentively." Turning chronology on its head, he sees Finnegans Wake as the source code of anglophone literature – a new beginning – rather than a dead end or a full stop. The novel, says McCarthy, has been "living out its own death" ever since Don Quixote; the "experience of failure" being integral to its DNA. If it weren't dying, the novel would not be alive.

According to Steiner, the rise of the novel was contemporaneous with a growing linguistic crisis. After the 17th century – after Milton – "the sphere of language" ceased to encompass most of "experience and reality" (The Retreat from the Word, 1961). Mathematics became increasingly untranslatable into words, post-Impressionist painting likewise escaped verbalisation; linguistics and philosophy highlighted the fact that words refer to other words … The final proposition in Wittgenstein's Tractatus (1921) bears witness to this encroachment of the unspeakable: "Whereof one cannot speak, thereof one must be silent." Four years earlier, Kafka had conjectured that it may have been possible to escape the sirens' singing, but not their silence.

Harold Bloom is right: belatedness is not merely an "historical condition". After all, it was already one of the major themes in Don Quixote. Yet, as Gabriel Josipovici points out, "this sense of somehow having arrived too late, of having lost for ever something that was once a common possession, is a, if not the, key Romantic concern" (What Ever Happened to Modernism?, 2010). Against the backdrop of declining confidence in the powers of language – just as Schiller's "disenchantment of the world" was becoming ever more apparent, and the writer's legitimacy, in a "destitute time" (Hölderlin) of absent gods and silent sirens, seemed increasingly arbitrary – literature came to be considered as an "absolute". Walter Benjamin famously described the "birthplace of the novel" as "the solitary individual": an individual cut off from tradition, who could no longer claim to be the mouthpiece of society. As soon as this "solitary individual" was elevated to the status of an alter deus, the essential belatedness of human creativity became glaringly obvious. "No art form," says Steiner, "comes out of nothing. Always, it comes after, and the "human maker rages at [this] coming after, at being, forever, second to the original and originating mystery of the forming of form".

As early as 1758, Samuel Richardson had wondered if the novel were not just a fad, whose time had already run out. By the 20th century, the picture looked far bleaker. Theodor Adorno felt that there could be no poetry after Auschwitz. In 1959, Brion Gysin complained that fiction was lagging 50 years behind painting. In the early 60s, Alain Robbe-Grillet attacked the mummification of the novel in its 19th-century incarnation. In 1967, John Barth published "The Literature of Exhaustion" in which he spoke of "the used-upness of certain forms or exhaustion of certain possibilities". The same year, Gore Vidal diagnosed that the novel was already in its death throes: "we shall go on for quite a long time talking of books and writing books, pretending all the while not to notice that the church is empty and the parishioners have gone elsewhere to attend other gods". The death of literature, and the world as we know it, became a fashionable topic among US academics in the early 90s (see, for instance, Alvin Kernan's aptly-titled The Death of Literature, 1992). Their argument was usually that English departments had been hijacked by cultural studies, Continental theory or political correctness gone mad (Bloom's "School of Resentment").

Since then, two things have happened. The novel – which was meant to fuse poetry and philosophy, to subsume all other genres and even the entire universe (following Mallarmé's conception of The Book or Borges's dream of a "Total Library") – has been reduced to "literary fiction": a genre that approaches writing as if the 20th century had never happened. At the same time, the digital age has taken information overload to a whole new level. As a result, David Shields believes that the novel is no longer equipped to reflect the vitality and complexity of modern life (Reality Hunger, 2010). Kenneth Goldsmith – the poet to whom we owe the wonder that is UbuWeb – urges us to stop writing altogether in order to focus on recombining the texts we've accumulated over the centuries (Uncreative Writing, 2011). We may all be "remixologists" now, but what if (as Lewis Carroll wondered) word combinations were limited, and we had used them all up?

According to Steiner, we are "terminalists", "latecomers": "we have no more beginnings". For us, language "is worn by long usage" and the "sense of discovery, of exuberant acquisition" exhibited by writers during the Tudor, Elizabethan and Jacobean periods "has never been fully recaptured". On the eve of the unspeakable horrors of the second world war, Adorno already felt that "the carcass of words, phantom words" was all we had left. Language had been corrupted; irredeemably soiled by "the usage of the tribe" (Mallarmé). Perhaps is it no longer possible for us to follow Ezra Pound's injunction to "make it new".

"Even originality itself no longer has the ability to surprise us," writes Lars Iyer in a remarkable essay recently published by The White Review. According to the author of Spurious (shortlisted for the Guardian's Not the Booker Prize), we live in "an unprecedented age of words", but one in which Important Novelists have given way to "a legion of keystroke labourers". Literature only survives as literary-fiction kitsch: a "parody of past forms"; a "pantomime of itself". In "The Literature of Exhaustion", Barth had envisaged how the "felt ultimacies of our time" (ie the end of the novel as "major art form") could become the material of future works. Iyer cranks this up a notch. We are no longer writing literature's conclusion but its "epilogue": ours is a "literature which comes after literature". Where Bloom's Romantic poets felt "belated" vis-à-vis their predecessors, Iyer feels that we have come too late for literature, full stop. Literature today is thus no longer "the Thing itself, but about the vanished Thing". The writer's task is "to conjure the ghost" of a tradition that has given it up. By this token, the novels of Tom McCarthy, Lee Rourke and Iyer himself are not so much evidence of a nouveau roman revival as instances of a new type of hauntological fiction which explores the lost futures of Modernism.

Given that Iyer has published two books on the work of Maurice Blanchot, one cannot but think of the French author's answer to the question 'Where is literature going?': "literature is going toward itself, toward its essence, which is disappearance". Perhaps the "Thing itself" was about "the vanished Thing" all along – but stop me, oh-oh-oh, stop me, stop me if you think that you've heard this one before.