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Economist, J. A. Schumpeter is most widely known today for his theory of "creative destruction". This article actually provides a great look into what he meant by that. I think the parallel that is drawn to the music industry is very appropriate to explain exactly what creative destruction is so I'll follow along in the same way - Recorded music hurt concert attendance > Tapes killed the record > CDs killed tapes > MP3s killed CDs.
Kyle Jay
9/16/2011 01:00:56 am
Thinking about the economics of e-books, a publisher should be looking at them with a fond eye. Traditional books require paper, shipping and handling and bookstores to sell them, meaning the publisher must ask a price "x" just to cover their expenditures. E-books would allow them to charge much less for the same finished product. (Of course they won't, and why would they? We buy them just the same.) The people that will be hurt are paper mills, shipping and handling firms and bookstores who can't survive as a major online source. Comments are closed.
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