Ewan Morrison writes in The Guardian that we are at the start of an epublishing bubble. Go on and read it. I'll wait.
Now here's the thing: All the words have meaning and all the sentences are coherent, but this article doesn't make a lick of sense. Mister Morrison, if he can bear to look back at what he wrote five years from now, will cringe at the hash he made of predicting the future, and the logical contortions he forced himself through to get this piece written.
1. Trying to compare cultural shifts to macroeconomics is pointless and absurd, right on its crazy face.
2. For there to be a bubble, there has to be a boom and a bust in the cycle. I see the boom. For the life of me, I don't see a bust in the scenario. It's not like people are suddenly going to throw up their hands in despair en masse and stop writing.
3. There are three groups who are going to get hurt because of the paradigm shift away from print to electronic publishing: Traditional publishers, brick and mortar retailers, and any indie hopeful who pays hard money for anything to do with his/her writing without doing their homework. This does not a bubble make, any more than the printing press did.
Look, I'm quite certain that the makers of illuminated manuscripts first scoffed at, then became alarmists about the printing press. The makers of buggy whips, I'm certain, denigrated automobiles to no end. But at the end of the day, it's wasted effort to battle inevitability. Worse, it's wasted time.
Time that should be spent playing catch-up, hell bent for leather.