Here’s a really excellent article on the development of the novel and the direction it should be going:
http://www.prospectmagazine.co.uk/2007/05/greek-comedy-modern-literary-novel/
I agree with the writer that there are endless possibilities for the literary novel – it can be modelled into so many different forms but the default setting, in the English language at least, seems to be dramatic tragedy. He also mentions one of my favourite novels, John Kennedy Toole’s A Confederacy of Dunces, which is simply hilarious. I do love literary tragedy but it would be no harm to have a few more award winning laughs.