The literary marketplace has always had three essential elements: authorship, publishing and audience. Each of these has been shaped by market forces from the very beginning, and each in its own way has mirrored the successive phases of Western capitalism -- pre-industrial/pre-modern, industrial/modern and, in the last fifty years, post-industrial and postmodern. Our immediate concern is with the literary marketplace in the last of these phases, but as we consider how that market has changed since World War II, it will be important to keep in mind that at least some of its features are perennial.
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