Mike Shatzkin isn't a big favorite around here, but this, published on Wednesday, sounds right to me:
http://www.idealog.com/blog/losing-b...s-for-readers/
Quote:
Online book buying — whether print or digital — takes business away from bookstores. So bookstores close or reduce shelf space. That decreases both their attraction and their convenience, which makes online buying increase even more. So bookstores close or reduce shelf space further. (This is called a “vicious cycle”.) . . .
. . . conclusion was confirmed in Monday’s Times with a front-page story about bookstores turning to charity to stay afloat. If anybody believes this is a sustainable strategy, I’d like to hear the explanation.
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There still will be a small market for printed books, just like there is a small market for LP's. Heck, there are still buggey makers. Just not a lot.
As for OP article, I think it is right about bookstores. But libraries have more legs. It's going to take quite a long time for most of the books in my local physical library to be available as eBooks. And fewer people borrowing books doesn't harm a library's finances as quickly and directly as fewer people buying harms a bookstore. Also, it's easier for the library to shift emphasis -- such as to community activities -- because they don't need to be monetized.