The Great NBA Disaster

John Sutherland

Wednesday, 27 September 1995 was not a day lacking in newsworthy events. Arogue Japanese trader had out-Leesoned Leeson by losing a billion dollars on Wall Street without his employers noticing; Clinton had successfully, as it seemed, bombed the Serbs and blackmailed the Israelis to the peace table; Humphrey the missing Downing Street cat had been found. What the Times chose to lead with on Wednesday morning was BOOK PRICING AGREEMENT IS SHATTERED, with the explanatory sub-heading ‘Discount War Begins on Top Titles’ and an unflattering mugshot of Sir Kingsley Amis over the caption: ‘Book Likely to be Cheaper’.

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[*] The account of organised price regulation in the British book trade from which I draw here is given in James Barnes’s Free Trade in Books (Oxford, 1964).