The Counterfeiters is an intricate, layered novel of many intertwined and interrelated characters, which never fully starts or stops. It focuses on Edouard, a thirty eight year old novelist, who, while critically acclaimed, has not had the literary success of some of his fellows. As the novel progresses, it becomes clear that Edouard is a stand-in for the author himself, as he observes the scandals of his young friends and relations. Although he's involved, he's more of a benevolent overseer than an active participant.
The point of view is interesting – while it’s third person omniscient, it is so in an unconventional way, as events are related from a limited point of view, and then switching to limited from the viewpoint of another character. Events and new characters are often introduced obliquely.
Perhaps the biggest criticism that can be made of the work is that Gide lays out so much of his philosophy of art in the speech of the characters -- Edouard has long discussions and journal entries on the novel he is planning on writing (also called The Counterfeiters) which mirror Gide's journal, which is included at the end of this translation of the novel. This is another sticking point -- Gide seems like he could have lifted nearly all of Edouard's journal from his own journal. Should an author have such a transparent avatar?Midway through, it's revealed that Edouard is working on his next novel -- also titled "The Coutnerfeiters", and dealing with the same themes as the novel we're reading. This is what allows Gide to insert so much of his thoughts on art and literature into the novel, since Edouard is working at the same business Gide is -- creation. It's not quite ham-handed, but it's not exactly subtle, either.
The Counterfeiters ends the way Edouard had been planning on ending his novel -- abruptly, in midstream, leaving itself open for a sequel, but not demanding one. It's a worthwhile novel, and an interesting exercise in metafiction. I won't be re-reading it anytime soon, but I'm glad that I finished it.