The whole point of a free market is to establish fair pricing. Book publishers are not happy with the e-readers because their profits have decreased dramatically. New technology requires new strategies. This is no different than the industrial revolution. Book publishers need to work on selling more copies instead of fighting pricing.
I don't think publishers should prevent e readers from cutting down retail prices. I think E books are the way of the future and if not e books then something else that will replace them. E books are a great way to save space and not have to worry about carrying so much.
Book publishers do not want e-readers to sell their books at a cheaper price, but let's face it--the e-reader is becoming the popular medium to read on. An e-reader is more convenient, cheap, and easier to produce. If the distributor of e-books can sell more at cheaper price than a hard copy book, then it makes sense that they would take advantage of that opportunity.
Book publishers are delaying the inevitable decline of their profession, and anything trying to fix the price of books to be high would ultimately just delay things while hurting authors. The Internet is the new technology and the new medium, and trying to avoid this is futile to say the least.
While it may not seem fair from a publisher's perspective, the fact is that ebooks are considerably cheaper to produce and distribute than traditional books. As such, it is perfectly reasonable that ebooks should cost less than traditional books, even if it means that their price is significantly lower than the publisher's recommended retail price. Ultimately, it should be the prerogative of the distributor, not the publisher, to set the price for the books.