These are UK prices, remember. And they are very, very low. The picture's not the same in some other markets, though I'd hazard a guess books are still cheaper in relative terms than they were forty years ago.

How do authors make a living? Not from one market or one medium I'm sure. Translations, audio, collaborations, theatrical rights... you need them all unless you are very big in a single market.

With you on the piracy word... there's nothing romantic about stealing someone else's work particularly when it costs so little to buy it legally.