That sort of information is regularly bought and sold today. A breach that's just names, addresses, and phone numbers will draw a few headlines, some comments on HN, and a bunch of scolding tweets. But I don't imagine most people see that as particularly sensitive information in most circumstances. (Some exceptions of course such as the fact that you're in a particular database is itself sensitive.)
A database feeds more evil than a printed book could, even if scanning/ocr it were feasible.
People could look up numbers online if they wanted to, so there was just no need for a big book any longer. They also never had cell numbers so they became less useful in that regard. And most people don't just call a person out of the blue any longer.
I also suspect that by the time cellphones got big, the public overall wouldn't have been big on cellphones numbers being listed.
This old article https://slate.com/news-and-politics/2001/06/why-isn-t-there-... claims that the wireless carriers didn't want to put out a directory because consumers would be upset if they had to pay for junk calls.
I wonder why white pages fell out of favor. Maybe the global access made them a bit too invasive, or people voted with their feet. Or switched to mobile phones which did not do this.