A timely Economist book business reality check; read the full article
Bookstores and publishers may be hurting, but this does not mean that the book itself is in trouble -- at least not immediately. For one, its physical incarnation will not disappear any time soon. People have grown up reading paper books and will not kick the habit easily. And e-readers and similar devices are still no match for the technology known as the book. Try annotating a textbook on a Kindle or reading your favorite author on an iPad whose battery has given up the ghost (replacing it will cost you $99 and all the data will be lost).
What is more, digital technology is strengthening, not weakening the book. Historically, new ways to distribute books have often led to innovations.