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In a December 12th interview on BookTV, Sara Nelson, editor-in-chief of Publishers Weekly, discussed the grim state of the publishing industry and its problematic business model. If you’ve been wondering whether the recession has been affecting book publishing, the answer is “yes.”

These two clips are sobering viewing—and should inspire us all to think about what kinds of changes publishers, distributors, retailers, an authors need to make in order to create a thriving industry.