The book business is screwed because of generations of GOP-fueled anti-intellectuallism — them and the communists in the USSR and China made a huge stink against intellectualism because, of course, that’s the source of dissent.
And whole lot of brainless greed: doing whatever you can today to maximize profits today and hang tomorrow. You know, like Wall Street. And why should the bidness leaders care? If they crap out, the despised gummint will always make sure they get into the very least trouble and keep as much of what must be considered (if one bothers to look at facts) as ill-gotten. Think God, the GOP believes in religion and morality. What would have happened with Dems in charge? Some responsibility, fiscal or otherwise?
The long version of how and why the book business is screwed is here.
If that link doesn’t work, try this one and go from there.
And Cory Doctorow tosses in a little insight.
Thank you, Our Leaders for making the world a better place (just dunno what makes it better…).