[T]he key point in the business is that the investment is made in the wrong areas in the business, and I think that quality—which is more valuable over time—has been undervalued, and quantity—which is less valuable over time—has been overvalued. And I think this is a reaction to the dominance of the influence of the chains. In England right now, this is a catastrophe. The retail side is leading the business by the nose, and publishers have not reacted with sufficient strength, and they should have. And so the business in England is just in the tank basically.
In this excellent interview with literary agent Andrew Wylie, we’re treated to an inside look at the publishing biz. Wylie represents some of the biggest literary figures out there: Rushdie, Amis, Roth, and others. He’s smart, and he’s funny. Read the whole thing. (Via Andrew Sullivan.)
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