Literature, most generically, is any body of written works. More restrictively, literature writing is considered to be an art form, or any single writing deemed to have artistic or intellectual value, often due to deploying language in ways that differ from ordinary usage.
Philology is the study of language in oral and written historical sources; it is a combination of literary criticism, history, and linguistics. Philology is more commonly defined as the study of literary texts as well as oral and written records, the establishment of their authenticity and their original form, and the determination of their meaning. A person who pursues this kind of study is known as a philologist.
A beautiful literature springs from the depth and fullness of intellectual and moral life, from an energy of thought and feeling, to which nothing, as we believe, ministers so largely as enlightened religion.
While the guardians of “literary” fiction still give each other prizes and writers can still achieve stardom and create good work, the fact remains that it is a movement that has lost all its creative force as a movement.
Orson Scott Card, Quo Vadis? (Published in Nebula Awards Showcase 2008)