Who defines "classic"?

I have read more than my fair share of books. A voracious reader with a seemingly limitless capacity for single-sitting reading, I am easily able to read 3 or 4 500+ page books per week when the mood strikes me. Oft times I read fluff but other times I read serious works. And the frequency with which I read the serious works of the "great men" of the middle ages has a direct correlation to the price I must spend.
I wonder how much I would read if I had a source giving me free access to classic works?
Now, I am sure many other voices will join the chorus calling hijinks on Google. And I can only say...bollocks. The authors are no longer with us, their family gets not one ha-penny for the reprints the publisher does...what other argument can legitimately be raised against this boon for perusers of ancient tomes?