The Economic Benefits of Libraries

January 28, 2010 at 8:38 pm Leave a comment

Scientist Eric Hellman presents economic evidence that lending libraries, which by their nature don’t bring in income from their users, are actually inherently beneficial for authors, publishers, and consumers:

[L]ibrary-like sharing benefits both publishers and consumers when the transaction cost of sharing is less then the marginal production cost:

1) more books will be read; 2) consumers will pay a lower price per reading; 3) the sellers will make a higher profit; and, 4) consumers will be better off.

To put it another way, libraries can be economically justified if the cost to lend a book is less than the cost to produce and sell a book.

Read the full post (with graphs!) at Hellman’s blog Go To Hellman (via Jessamyn West at Boing Boing).


Entry filed under: Public Libraries.

Review: The Hundred Thousand Kingdoms by N.K. Jemisin Upcoming Events

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed

Library Club Leadership

Teachers In-Charge:
Mrs Rosalind Lee (SC)
Mdm Chan May Lun
Mdm Shieh Le-shiang
Mrs Kris Koo (Senior AO)
Mrs Wang Meng Juan (AO)

2011-12 ExCo:
Foo Yang Yi (Chairman)
Kervin Tay (Vice-Chairman)
Ian Wong (Training & Recruitment)
Zach Wang (Public Relations)
Joel Lee (Welfare)

January 2010
    Feb »

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 11 other followers


%d bloggers like this: