Gas Bags

Technocracy is running on fumes.

Reason , July 1996

In 1994 and '95, paper prices skyrocketed. The cost of magazine paper rose by about 10 percent a month, hardly the sort of hike you can simply pass on to subscribers. Most publishers, including REASON, dealt with the increase by printing fewer pages and adding fewer new subscribers than they'd planned. Newspapers were even harder hit: Escalating newsprint prices drove many to lay off hundreds of employees, raise prices, and, in some cases, go out of business. It was not a happy time in the publishing industry