RE: Re: RE: Re: RE: RE: Re: tax theory/policy

[Devine, James]

Title: RE: [PEN-L:34061] RE: Re: tax theory/policy

the odd thing about his advance is that it doesn't seem justified by his abilities.

Jim Devine [EMAIL PROTECTED] &  http://bellarmine.lmu.edu/~jdevine

-----Original Message-----
From: Joel Blau [mailto:[EMAIL PROTECTED]]
Sent: Thursday, January 23, 2003 1:19 PM
To: [EMAIL PROTECTED]
Subject: [PEN-L:34081] Re: RE: Re: RE: RE: Re: tax theory/policy

You're right--you don't get $1 million on signing. The typical deal is more likely structured as 50% on signing and 50% on delivery of a satisfactory manuscript. The assumption is that the advance represents the projected first year royalties.

The odd thing about Mankiw's advance (I remember this quite clearly from a circa 1994 New York Times article about it, in context of replacing Samuelson) was his discussion of the need for text that was more atuned to the fluidity of the new economy, justaposed to his previous publisher's ruminations about loyalty and the propriety of  leaving for $1 million.

Joel Blau



Devine, James wrote:

hey, he's got expenses to pay!

;-)

 

strictly speaking, I'm told that a publisher's advance is not really an advance (i.e., cash on the barrel). There are all sorts of limits on it. But I have no direct knowledge and it would be interesting to hear how advances really work.

Jim Devine [EMAIL PROTECTED] &  http://bellarmine.lmu.edu/~jdevine

-----Original Message-----
From: Joel Blau [mailto:[EMAIL PROTECTED]]
Sent: Thursday, January 23, 2003 10:17 AM
To: [EMAIL PROTECTED]
Subject: [PEN-L:34071] Re: RE: RE: Re: tax theory/policy

He may not have been, but then you have to factor in the effect of getting a $1 million advance for his textbook.

Joel Blau

Devine, James wrote:

so Mankiw may replace Hubbard? I didn't know he was that conservative.

------------------------
Jim Devine [EMAIL PROTECTED] &  http://bellarmine.lmu.edu/~jdevine

> -----Original Message-----
> From: Max B. Sawicky [ mailto:[EMAIL PROTECTED] ]
> Sent: Thursday, January 23, 2003 6:56 AM
> To: [EMAIL PROTECTED]
> Subject: [PEN-L:34061] RE: Re: tax theory/policy
>
>
> career damage control.
>
>
>
> January 23, 2003
> Report: Bush Economist Hubbard to Leave
>
>
> [Hmm, I wonder what the real story is here.]
>
> < http://www.nytimes.com/aponline/business/AP-White-House-Econo
mist.html>