Remember when people, especially publishers, worried that the advent of the e-book would bring about the demise of the printed book? Only a few years later, that worry seems rather silly. As sales statistics bear out, both formats will co-exist for a long time to come.
Who can argue with the convenience of e-books, especially when traveling or wanting something instantly? But I also love the sensory appeal of printed books—their look, touch and smell; the way they beg to be opened and the way you can leaf through them randomly or with intent. And, although the dictionary and search functions of e-books are fantastic, entering marginalia in one is hardly as easy or as enjoyable as in a physical book (provided you have something to write with).
And yet, people still seem determined to kill off the paperback. I don’t understand it. If anything, despite recent sales figures to the contrary, I would predict the death of the hardcover book. At least for general fiction and non-fiction.
Once upon a time, you bought a hardcover book if you couldn’t wait to read it, or if you planned to keep it for years to come in your private library (you know, that stately room in your familial manor that reflected your education, social status and cultural devotion, now dubbed the media room), or if you were a librarian dealing with the wear and tear from multiple borrowers.
Recently, I read about a new library in Texas that contains no books at all. In effect, it is a computer hotspot with online access to e-books and e-zines. Give our digital age a few more years, and I suspect that will be the norm rather than the exception. The great democratic notion of public libraries full of books will become as quaint as public polling stations full of voting booths.
The demise of book-filled libraries may be the kiss of death for hardcover books, as well.
As if they sense it, publishers in these micro-margin, cost-cutting times have taken action. Hardcover books have risen in price and deteriorated in quality. These days, their spines often crack or tear, their cardboard covers warp and their pages feel like they are made of Kleenex and recycled soda bottles. Increasingly, the disadvantages of hardcover books—their size, heft and expense—outweigh their merits (especially if a book is only read once, as most are).
Meanwhile, paperbacks, especially trade paperbacks, have gotten better. Perhaps because they are traditionally the re-issue of hardcover editions, paperbacks tend to have more design harmony. More thought seems to go into branding the author and the imprint.
My current favorite American paperback publishers are Europa Editions and New York Review Books.
In the case of Europa, their sturdy covers come with gatefolds front and back, more like European books than the dime-store paperbacks of old. Their cover designs are simple, and the interior layout is refined: the off-white paper is a heavy uncoated stock, and the typefaces are well chosen for legibility, with large fonts and generous leading.
NYRB are winners for their understated design, modern color palettes, quality paper and sturdy construction (not to mention their interesting author lineup). You can always tell when you have an NYRB or Europa Editions book in hand. They are a pleasure to hold and to read, and they will last a lifetime of multiple readings.
With the emerging trend to publish the e-book version simultaneously, that publishers still issue a hardcover edition first, before the paperback, seems backward, a throwback to ye olde days. Publishers wonder why fewer books are bought each year, and they grumble about the terrible cost (not to mention waste) of remainders. But if they offered a high-quality paperback first edition instead (and saved the hardcover for the reprinting of time-tested literature), I believe they would have a winning formula. More often than not, my first choice would still be a physical book over an e-book, provided I didn’t have to wait months for its release and it was offered at a reasonable price. I bet plenty of other readers would choose it, too.
Austen, Balzac and the “dismal science”
I’m about halfway through a light summer read—French economist Thomas Piketty’s Capital in the Twenty-First Century, which so far has been thoroughly accessible and engaging.
As Piketty says numerous times in the book, even if you disagree with the exact percentages, the trends are difficult to refute. Over time, the distribution of wealth has followed a U-shaped curve. From the start of the Industrial Revolution to the eve of World War 1, wealth and income inequality remained at consistently high levels. Then, between 1913 and 1970, due to the century’s political, social and economic cataclysms, both values declined to their lowest levels. But since 1980 they have risen again, according to Piketty to levels approaching those at the end of the 19th century. Whether inequality is good, bad or inconsequential remains to be seen, but I suspect Piketty will spend the second half of the book arguing that it’s bad.
My appreciation of Piketty’s presentation has been enhanced by his use of literature to supplement his research, in particular Jane Austen’s Sense and Sensibility and Mansfield Park and Honoré de Balzac’s Père Goriot. There’s something reassuring about an economist who finds anecdotal evidence for his thesis in the humanities.
Jane Austen (1775-1817)
The point Piketty makes is that Austen and Balzac demonstrated an acute awareness of money—especially the amounts of wealth and income needed to be a person of means—that readers of the time would not fail to understand implicitly.
“In eighteenth- and nineteenth-century novels, money was everywhere,” Piketty writes, “not only as an abstract force but above all as a palpable, concrete magnitude. Writers frequently described the income and wealth of their characters in francs or pounds, not to overwhelm us with numbers but because these quantities established a character’s social status in the mind of the reader. Everyone knew what standard of living these numbers represented.”
Austen’s protagonists, for instance, fully understood the levels of wealth and kinds of income, whether from rents or investments (certainly not from labor among the upper class), their suitors possessed. Piketty asserts that modern-day writers, after a century of inflation and the consequential loss of our monetary bearings, cannot assume their readers share the same understanding of money. (I remember worrying about this when writing Under a False Flag; the 1972 dollar amounts of CIA covert actions in Chile seemed so paltry, I was afraid they would look ludicrous to the reader.)
Honoré de Balzac (1799-1850)
Piketty continues: “One could easily multiply examples by drawing on American, German and Italian novels, as well as the literature of all the other countries that experienced this long period of monetary stability. Until World War I, money had meaning, and novelists did not fail to exploit it, explore it, and turn it into a literary subject.”
Money does sometimes play an important role in modern novels, but in a way that probably strengthens Piketty’s argument. Think The Great Gatsby, where Gatsby’s wealth must be shown through the commodities consumed—shirts and cars and house size. And in more contemporary novels, money is often imbued with nebulous, shifting, post-modern meaning. Think JR by William Gaddis or Money by Martin Amis. Money becomes a concept, an illusion, that has little to do with defining social status and everything to do with gaming the system or the reader.
Piketty is not arguing for a return to the gold standard; he is simply making the point, in preparation for other more important points to come, that economic growth before World War 1 was slower, inflation was virtually non-existent, and investment income (the return on capital) grew faster than income from labor, thus enabling wealth and income inequality to remain high. It’s a situation he fears we are returning to, as most economic forecasts for developed nations indicate a slowdown in growth to rates approximating those of earlier centuries.
It’s complicated stuff, and there’s much more to it than I have touched on here. Piketty does a fine job explaining his thesis, building a persuasive argument in clear, logical steps, but perhaps what we need is a new Austen or Balzac to show us what this rise in wealth and income inequality really means to society. Or is one already out there? If you think so, please let me know. Meanwhile, I may go back to the originals with newfound appreciation.
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Filed under Books, Commentary, Reviews
Tagged as Capital in the Twenty-First Century, Economics, Honore de Balzac, Jane Austen, Non-fiction, Thomas Piketty, Under a False Flag