For nearly five centuries, the world of book publishing remained largely static. But at the dawn of the twenty-first century, the industry faces a combination of economic pressures and technological change that is forcing publishers to alter their practices and think hard about the future of the book.

This is the first major study of the book publishing industry in over 30 years. It provides a thorough, in-depth analysis of what’s happening in the world of trade publishing today, at a time of enormous change and uncertainty. John Thompson's riveting account dissects the roles of publishers, agents, and booksellers in the United States and Britain, charting their transformation since the 1960s. The author has established a reputation as a leading authority on the publishing industry and his previous book, Books in the Digital Age, has become a standard work on academic publishing. Offering an in-depth analysis of how the digital revolution is changing the game today, Merchants of Culture is the one book that anyone with a stake in the industry needs to read.