It’s imported the worst excesses of market fundamentalism into the one arena that used to be safe from them, the one part of our public and social life that used to be free of the commercial pressure to win or to lose, to survive or to die, which is the very essence of the religion of the market. Like all fundamentalists who get their clammy hands on the levers of political power, the market fanatics are going to kill off every humane, life-enhancing, generous, imaginative and decent corner of our public life. I think that little by little we’re waking up to the truth about the market fanatics and their creed. We’re coming to see that old Karl Marx had his finger on the heart of the matter when he pointed out that the market in the end will destroy everything we know, everything we thought was safe and solid. It is the most powerful solvent known to history. “Everything solid melts into air,” he said. “All that is holy is profaned.”
Market fundamentalism, this madness that’s infected the human race, is like a greedy ghost that haunts the boardrooms and council chambers and committee rooms from which the world is run these days.
In the world I know about, the world of books and publishing and bookselling, it used to be the case that a publisher would read a book and like it and publish it. They’d back their judgement on the quality of the book and their feeling about whether the author had more books in him or in her, and sometimes the book would sell lots of copies and sometimes it wouldn’t, but that didn’t much matter because they knew it took three or four books before an author really found his or her voice and got the attention of the public. And there were several successful publishers who knew that some of their authors would never sell a lot of copies, but they kept publishing them because they liked their work. It was a human occupation run by human beings. It was about books, and people were in publishing or bookselling because they believed that books were the expression of the human spirit, vessels of delight or of consolation or enlightenment.
Not any more, because the greedy ghost of market madness has got into the controlling heights of publishing. Publishers are run by money people now, not book people. The greedy ghost whispers into their ears: Why are you publishing that man? He doesn’t sell enough. Stop publishing him. Look at this list of last year’s books: over half of them weren’t bestsellers. This year you must only publish bestsellers. Why are you publishing this woman? She’ll only appeal to a small minority. Minorities are no good to us. We want to double the return we get on each book we publish.
So decisions are made for the wrong reasons. The human joy and pleasure goes out of it; books are published not because they’re good books but because they’re just like the books that are in the bestseller lists now, because the only measure is profit.