Was Picasso a modern Midas who not only turned the trash of everyday life into the gold of Cubist collage but also gave new value to the work of Old Masters? Or was he a monster counterfeiter who mercilessly raided the styles of others? In The Picasso Papers, Rosalind Krauss suggests that the reason we still ask these questions is that modernism itself is a hall of mirrors in which "counterfeit" and "genuine" both reflect the same condition. Krauss brings Picasso's pastiche of other artists brilliantly into focus as the "sublimated" underbelly of Cubism, refashioned in the bright, clean style of Picasso's neoclassicism--a defense that is its own form of practicing the forbidden.