The primary goal of publishing general fiction and non-fiction was never profit - though profit was essential to stay in the game. Publishing is a vocation in which the work is its own reward, an insufficient goal for today's conglomerates.

The marketplace for books when I entered the business shortly after World War II consisted of a thousand or so well stocked independent booksellers in major towns and cities supplemented by thousands of smaller shops that carried limited stocks of mostly current titles along with greeting cards, toys and so on.

What is true for book publishing is true for civilization: the books that survive the test of time are humanity's backlist, our collective memory.

Bookstores will not disappear but will exploit digital technologies to increase their virtual and physical inventories, and perhaps become publishers themselves.