The business of books

Post-war American publishing has been ruthlessly transformed since André Schiffrin joined its ranks in 1956. Gone is a plethora of small but prestigious houses that often put ideas before profit in their publishing decisions, sometimes even deliberately. Now six behemoths share 80% of the market and profit margin is all.

André Schiffrin can write about these changes with authority because he witnessed them from inside a conglomerate, as head of Pantheon, co-founded by his father, bought (and sold) by Random House. And he can write about them with candor because he is no longer on the inside, having quit corporate publishing in disgust to set up a flourishing independent house, The New Press. Schiffrin's evident affection for his authors sparkles throughout a story woven around publishing the work of those such as Studs Terkel, Noam Chomsky, Gunnar Myrdal, George Kennan, Juliet Mitchell, R. D. Laing, Eric Hobsbawm and E.P.Thompson.

Part-memoir, part-history, here is an account of the collapsing standards of contemporary publishing that is irascible, acute and passionate. An engaging counterpoint to recent, celebratory memoirs of the industry written by those with more stock options and fewer scruples than Schiffrin, The Business of Books warns of the danger to adventurous, intelligent publishing in the bullring of today's marketplace.