This Article challenges conventional wisdom propounded by U.S. and German governments, as well as Microsoft and other competitors of Google, concerning the likely economic impact of mass book-digitization projects. According to a study, "Google's scanning and digital previews of books may be helping publishers sell more books".
Here's an excerpt: "This study has found no support for an imminent monopoly by Google over books. Publishers of printed books continue to increase their sales and profits. Their rate of sales growth has increased since the scanning of books into GBS by Google. Book sales are growing faster than retail sales or the economy as a whole. These findings suggest that benefits of digital libraries to American students and persons of limited disposable income, in terms of accessibility of information about and inside books, needn't be sacrificed to save publishers from "Napsterization" and the loss of their customers. Moreover, potential gains in economic efficiency, freedom of expression, and global democratization represented by digital libraries like GBS are more likely to outweigh any damage done by GBS to publishers, than had the findings of this study been otherwise."
Reference: Hannibal Travis Study