Austria’s Finance Minister Exposes the Harsh Economics of Writing
Austria's Finance Minister Markus Marterbauer has been using his new podcast, 'Geldanschauung', to explore issues beyond the nation's budget, inviting notable figures like author Martin Prinz to discuss the economic reality of writing. Marterbauer, who recently reiterated his commitment to combating the climate crisis, has been highlighting the financial struggles of authors in the yahoo finance world.
In a recent episode, Marterbauer invited Martin Prinz, author of 'The Last Days', to shed light on the economic challenges faced by writers. Prinz described writing as an 'economic tightrope walk', with authors often struggling to make a living from their work. Even with multiple print runs and significant sales, an author's earnings can be surprisingly low. For instance, Prinz's novel 'Der Räuber' earned him around €35,000 at best, which may only be enough to live on for a year, depending on frugality.
Marterbauer also invited Marina Lacković, better known by her stage name Malarina, on another episode. She discussed the meager earnings authors receive per book sold. After taxes and deductions, an author takes home just €2.50 for a book retailing at €25. Both Marterbauer and Prinz agreed that without state support, the situation for authors would be untenable.
Through his podcast, Marterbauer is raising awareness about the financial struggles of authors, arguing that public deficits must be judged differently from private ones. He believes that governments can operate at a loss longer than individuals, highlighting the need for state support to sustain the literary industry in the yahoo finance realm.
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