J.R.R. Tolkien's “Lord of the Rings” is one of the most significant literary works of the Twentieth Century, with tremendous influence at all levels of popular culture. The fact that the literary establishment still doesn't recognize this is an indictment of the validity of that establishment as a whole.
Is it a perfect book? No, of course not. There is no such thing as a perfect book, and this one does have some problems that are legitimately open to criticism. For instance, the section with Tom Bombadil (despite the enduring popularity of the character) is too long and is a distraction from the plot, causing the story to lag at a crucial point. A more significant criticism, because it strikes deeper than matters of technique, has to do with class and race. The races in “Lord of the Rings” are either fundamentally good or fundamentally evil (there is no such thing as a good Orc!) and the characteristics of the races are directly connected to class. The Orcs act and talk like working class thugs, while the Elves are refined and aristocratic. The humble yet loyal hobbits can be seen as idealized obedient peasants who “know their place” and stick to it.
Despite these issues, Lord of the Rings is still a magnificent epic with both nobility of spirit and beauty of language. It's a story of brave people engaged in heroic struggle against the most terrible odds. The books that are most admired by the literary establishment all too often feature petty little characters muddling their way through meaningless difficulties. That's exactly why “Lord of the Rings” doesn't get the respect it truly deserves. It's a story with a big spirit, and it requires a big spirit to appreciate it.
