The future of books . . .

From the London Review of Books:

Whatever the outcome of the DoJ investigation, it seems unlikely that the agency agreement in ebooks has much of a future. If and when it collapses we’ll see whether the brief period of publisher-determined prices has allowed Amazon’s competitors to gain the momentum to prosper in the ebook market. We’ll probably also see Amazon resume its relentless discounting to retain and expand its market share, demanding higher discounts from publishers so they pay for the privilege of having their books sold at prices that undermine their print sales. And Bezos will no doubt be lauded in the Amazon chat rooms and beyond as the champion of the little guy, the man who stuck it to the voracious cartel of New York publishing. What these customers won’t see is the hollowing out of mid-list books that price-cutting is inflicting on the business that produces what they read. 

Full story here; important reading.