Call me a pessimist, call me Ishmael, but I think that book publishing is about to slide into the sea. We live in a literate time, and our children are writing up a storm, often combining letters and numerals (U R 2 1derful), blogging like crazy, reading for hours off their little screens, surfing around from Henry James to Jesse James to the epistle of James to pajamas to Obama to Alabama to Alanon to non-sequiturs, sequins, penguins, penal institutions, and it's all free, and you read freely, you're not committed to anything the way you are when you shell out $30 for a book, you're like a hummingbird in an endless meadow of flowers.
And if you want to write, you just write and publish yourself. No need to ask permission, just open a website. And if you want to write a book, you just write it, send it to Lulu.com or BookSurge at Amazon or PubIt or ExLibris and you've got yourself an e-book. No problem. And that is the future of publishing: 18 million authors in America, each with an average of 14 readers, eight of whom are blood relatives. Average annual earnings: $1.75.
Back in the day, we became writers through the laying on of hands. Some teacher who we worshipped touched our shoulder, and this benediction saw us through a hundred defeats. And then an editor smiled on us and wrote us a check and our babies got shoes. But in the New Era, writers will be self-anointed. No passing of the torch. Just sit down and write the book. And the New York Times, the great brand name of publishing, will vanish (POOF) whose imprimatur you covet for your book ("brilliantly lyrical, edgy, suffused with light"—NY Times). And editors will vanish.
The upside of self-publishing is that you can write whatever you wish, utter freedom, and that also is the downside. You can write whatever you wish and everyone in the world can exercise their right to read the first three sentences and delete the rest.
Self-publishing will destroy the aura of martyrdom that writers have enjoyed for centuries. Tortured geniuses, rejected by publishers, etc., etc. If you publish yourself, this doesn't work anymore, alas.
Children, I am an author who used to type a book manuscript on a manual typewriter. Yes, I did. And mailed it to a New York publisher in a big manila envelope with actual postage stamps on it. And kept a carbon copy for myself. I waited for a month or so and then got an acceptance letter in the mail. It was typed on paper. They offered to pay me a large sum of money. I read it over and over and ran up and down the rows of corn whooping. It was beautiful, the Old Era. I'm sorry you missed it.