This will become more important as electronic books and music squeeze out physical content. How do you sell back any electronic music or books that you bought? Both Amazon and Apple are exploring methods for a marketplace in electronic content. Fearing market dominance, many people are worried about what will happen, citing the low cost of used books on the internet.

Scott Turow, the best-selling novelist and president of the Authors Guild, sees immediate peril in the prospect of a secondhand digital thrift shop. “The resale of e-books would send the price of new books crashing,” he said. “Who would want to be the sucker who buys the book at full price when a week later everyone else can buy it for a penny?”

This long article at the NY Times, covers copyrights and patents involved in such a prospect. How sad, when there is no patent involved in opening a used book store. The issue of paying royalties on used books is always a sticky one, though. But should someone have to be paid every time their content is sold and resold?

Surprised to see this on PBS org, of all places, but a good anti-Keynesian argument by John Papola against the silly idea that consumption is the only way to prosperity. The rebuttal by historian James Livingston blasts “austerity” which is the code word for reducing government spending and letting private money remain in private hands, or opposing the idea of inflating our way to prosperity. Livingston’s argues that without “trade unions, social movements, families and governments…markets typically destroy themselves.” These forces act as “outer limits — determined by civil society.” Ah, there’s that mythical “civil society”, or as many Norwegian social democrats simply say, “society.” There is no such entity. Rather, it’s a group of people who declare that they know what’s good for everyone else, and justify that belief by saying “society” benefits. Livingston frankly admits his view “requires planning. Not central planning, mind you. Just some kind of public, purposeful, collective action that acknowledges the social purpose of economic growth.” That so-called collective action is nothing but the law imposed by certain people on everyone else in society, and “social purpose” is defined by those in power at that time. With no logic behind it, just emotion.