The Textbook Ripoff

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THE TEXTBOOK RIPOFF….Andrew Gelman:

I received a free copy in the mail of an introductory statistics textbook; I guess the publisher wants me to adopt it for my courses….I showed the book to Yu-Sung and he said: Wow, it’s pretty fancy. I bet it costs $150. I didn’t believe him, but we checked on Amazon and lo! it really does retail for that much. What the….? I asked around and, indeed, it’s commonplace for students to pay well over $100 for introductory textbooks.

Andrew wants to know why textbooks are so expensive. Henry Farrell too. Add me to the list.

I’ve heard various explanations for the skyrocketing cost of textbooks. They’re bigger these days. They use more color. They include CDs and multimedia bells and whistles. Etc.

But here’s a data point. I only have one of my college textbooks still in my possession, but I just got it off the shelf to see if it had a price in it. It did: $17.25. That was in 1976, and adjusted for inflation it comes to $64 in today’s dollars. So what does it currently cost on Amazon? Answer: $132. It is, as near as I can tell, the exact same book. Same binding, same number of pages, same charming lack of color. In fact, browsing through it, it looks as if it’s being printed from the same plates as it was in 1976.

This, then, is obviously a book that ought to be cheaper today than it was three decades ago. The costs of production have long since been paid back, there’s a ton of competition from the used book market since the book hasn’t changed in 30 years, and I imagine that author royalties are the same as ever. For reference, a similar size commercial hardback would run about $40 these days.

So what is the deal? Why are textbooks such a ripoff?

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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