Finally, an insider sheds light on the reasons behind the troubles publishing houses are dealing with: all those layoffs and cutbacks are not caused by the opportunity presented by the "economic downturn", not by readers who don't spend $$ on books that they cannot believe could be printed in the first instance, but it is the advances paid to authors...
"[...] what I do think – in common with most of publishing – is that the whole system of publishing advances is threadbare. It’s like the Windows operating system: the programme has been stretched and overwritten so much it is cumbersome and worn out. The fact that it just about “does the job” is why it’s still used."
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