Charlie's Diary

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Tue, 06 Jan 2004 Deeply unamusing Well, I've been ploughing on -- passed 15,000 words of new material yesterday. In the meantime, I was deeply unamused to notice the US dollar continuing its slide on the world currency markets. Never mind the Euro being at an all-time high; you can now buy 1.8025 dollars with a single pound sterling. That's the weakest the dollar has been in 11 years. Leaving the macroeconomics aside, the dollar was at 1.50 to the pound for almost the whole of the 1990's. While I've now got a UK publisher, the majority of my sales -- the majority of sales for anyone writing SF in the English language, for that matter -- are to publishers in the United States. Contracts are negotiated and paid in US dollars. If the dollar loses 15% of its value against the pound between a contract being negotiated and the books written, delivered and paid for, then the author loses 15% of his or her pay packet for the next year or two. If the dollar goes back up, this won't necessarily fix things -- if the cheque has already been deposited and converted into sterling at a poor exchange rate, that money has vanished into the haze of might-have-been. Of course, currency fluctuations don't mean an automatic pay cut for writers. For one thing, currencies that go down may also come back up. For another thing, authors are paid both a lump sum advance (a non-returnable loan) against future earnings, and a royalty (a percentage cut of the earnings from their books, from which the advance is deducted). A book that sells well and earns out the advance will pay a further royalty, a year or two down the line for the time when the contract is signed. And authors usually hope that their next book will sell more copies than the one before. So if the second and third (and subsequent) books sell 15% more than the first, the effect of the exchange rate fluctuation is cancelled out. Of course, I'd rather have the 15% pay rise ... But the fact remains, if you're a British SF/fantasy writer, then almost by default (if you want to earn a living) you're a one-person export industry aimed at the North American market. Which is why headlines like this one (No end in sight to dollar's descent) do not fill me with joy and goodwill towards all Federal Reserve bankers. [ Link][Discuss writing] posted at: 11:36 | path: /writing | permanent link to this entry

specials: Is SF About to Go Blind? -- Popular Science article by Greg Mone Unwirer -- an experiment in weblog mediated collaborative fiction Inside the MIT Media Lab -- what it's like to spend a a day wandering around the Media Lab "Nothing like this will be built again" -- inside a nuclear reactor complex Quick links: RSS Feed (Moved!) Who am I? Contact me Buy my books: (FAQ) Missile Gap Via Subterranean Press (US HC -- due Jan, 2007) The Jennifer Morgue Via Golden Gryphon (US HC -- due Nov, 2006) Glasshouse Via Amazon.com (US HC -- due June 30, 2006) The Clan Corporate Via Amazon.com (US HC -- out now) Accelerando Via Amazon.com (US HC) Via Amazon.com (US PB -- due June 27, 2006) Via Amazon.co.uk (UK HC) Via Amazon.co.uk (UK PB) Free download The Hidden Family Via Amazon.com (US HC) Via Amazon.com (US PB) The Family Trade Via Amazon.com (US HC) Via Amazon.com (US PB) Iron Sunrise Via Amazon.com (US HC) Via Amazon.com (US PB) Via Amazon.co.uk (UK HC) Via Amazon.co.uk (UK PB) The Atrocity Archives Via Amazon.com (Trade PB) Via Amazon.co.uk (Trade PB) Via Golden Gryphon (HC) Via Amazon.com (HC) Via Amazon.co.uk (HC) Singularity Sky Via Amazon.com (US HC) Via Amazon.com (US PB) Via Amazon.com (US ebook) Via Amazon.co.uk (UK HC) Via Amazon.co.uk (UK PB) Toast Via Amazon.com Via Amazon.co.uk Some webby stuff I'm reading: [ Engadget ] [ Gizmodo ] [ The Memory Hole ] [ Boing!Boing! ] [ Futurismic ] [ Walter Jon Williams ] [ Making Light (TNH) ] [ Crooked Timber ] [ Junius (Chris Bertram) ] [ Baghdad Burning (Riverbend) ] [ Bruce Sterling ] [ Ian McDonald ] [ Amygdala (Gary Farber) ] [ Cyborg Democracy ] [ Body and Soul (Jeanne d'Arc)  ] [ Atrios ] [ The Sideshow (Avedon Carol) ] [ This Modern World (Tom Tomorrow) ] [ Jesus's General ] [ Mick Farren ] [ Early days of a Better Nation (Ken MacLeod) ] [ Respectful of Otters (Rivka) ] [ Tangent Online ] [ Grouse Today ] [ Hacktivismo ] [ Terra Nova ] [ Whatever (John Scalzi) ] [ GNXP ] [ Justine Larbalestier ] [ Yankee Fog ] [ The Law west of Ealing Broadway ] [ Cough the Lot ] [ The Yorkshire Ranter ] [ Newshog ] [ Kung Fu Monkey ] [ S1ngularity ] [ Pagan Prattle ] [ Gwyneth Jones ] [ Calpundit ] [ Lenin's Tomb ] [ Progressive Gold ] [ Kathryn Cramer ] [ Halfway down the Danube ] [ Fistful of Euros ] [ Orcinus ] [ Shrillblog ] [ Steve Gilliard ] [ Frankenstein Journal (Chris Lawson) ] [ The Panda's Thumb ] [ Martin Wisse ] [ Kuro5hin ] [ Advogato ] [ Talking Points Memo ] [ The Register ] [ Cryptome ] [ Juan Cole: Informed comment ] [ Global Guerillas (John Robb) ] [ Shadow of the Hegemon (Demosthenes) ] [ Simon Bisson's Journal ] [ Max Sawicky's weblog ] [ Guy Kewney's mobile campaign ] [ Hitherby Dragons ] [ Counterspin Central ] [ MetaFilter ] [ NTKnow ] [ Encyclopaedia Astronautica ] [ Fafblog ] [ BBC News (Scotland) ] [ Pravda ] [ Meerkat open wire service ] [ Warren Ellis ] [ Brad DeLong ] [ Hullabaloo (Digby) ] [ Jeff Vail ] [ The Whiskey Bar (Billmon) ] [ Groupthink Central (Yuval Rubinstein) ] [ Unmedia (Aziz Poonawalla) ] [ Rebecca's Pocket (Rebecca Blood) ] Older stuff: June 2006 May 2006 April 2006 March 2006 February 2006 January 2006 December 2005 November 2005 October 2005 September 2005 August 2005 July 2005 June 2005 May 2005 April 2005 March 2005 February 2005 January 2005 December 2004 November 2004 October 2004 September 2004 August 2004 July 2004 June 2004 May 2004 April 2004 March 2004 February 2004 January 2004 December 2003 November 2003 October 2003 September 2003 August 2003 July 2003 June 2003 May 2003 April 2003 March 2003 February 2003 January 2003 December 2002 November 2002 October 2002 September 2002 August 2002 July 2002 June 2002 May 2002 April 2002 March 2002 (I screwed the pooch in respect of the blosxom entry datestamps on March 28th, 2002, so everything before then shows up as being from the same time)

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