I’m only ignoring the long term because I’m looking for evidence that the rate at which the market produces new, timely works is reasonably close to what the demand for such works is.
Indeed, the publishing industry thinks nothing of pulping millions of unsold (or libelous) books each year. And there was no outcry in 2003 when 2.5 million romance novels from the publisher Mills & Boon were buried to form the noise-reducing foundation of a motorway extension in Manchester, England.
http://www.nytimes.com/2007/03/04/books/review/Schott.t.html
Even the Library of Congress doesn’t want to keep copies of everything:
Close enough for government work, I suppose:
Even the Library of Congress doesn’t want to keep copies of everything: