The Promise of eBooks

Many of us were excited about eBooks when they were introduced, even though we understood the disadvantages  - eBooks cannot be loaned. They cannot be displayed on a shelf. The cloud and the nature of electronic data makes their ownership nebulous.

These concerns were trade offs. We were willing to trade these shortcomings for an affordability that printed books could not match. Normal market dynamics should have helped eBooks overcome their disadvantages. Instead, we saw price increases that couldn't be explained by rising costs of publishing.