Paul Krugman and the Economics of Books

For now, the estimable output of W. W. Norton, including Krugman's End This Depression Now, will continue to be available at a variety of prices. But over the longer term, with possibly serious consequences for the viability of publishers and booksellers, the odds favor the public's instinct to get the best bargain. To reiterate a crucial point I have made before: Publishers will always need the revenue to support authors and the staffs that edit, produce, and market their books, and to provide a reasonable profit for their owners. If the squeeze becomes too tight, the result will be fewer books that matter -- like End This Depression Now -- whether in print or digital formats.

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Note that the author of the

Note that the author of the article cited derives his livelihood from the publishing industry and may therefore not be completely objective.

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