o Lastly one needs to address the “Transaction Cost” on the writer. In the traditional model when one wants to publish a book, that requires a large financial commitment. What is meant by transaction cost is the commitment of the writer to have his work published.
§ An example of such would be to look at the world before the printing press, a writer had to decide whether his work was good enough for him to pay the cost of having it transcribed for sale. Now when looking at today’s blog world we see this cost, this sign of commitment, near zero. However we see the financial aspect near zero, perhaps today the commitment needs to come in a different form, perhaps the transaction cost is evident in the marketing campaign and blogging frequency of the writer. If you think your work is worth the publicity then you should be willing to go to great length to see that realized, but on the other hand a blogging commitment does not necessarily reflect a sacrifice in the same way as a financial commitment would.
· Perhaps this is one of the reasons we have so many bloggers today, many more than writers.