[Author’s Note: David Foster made a comment about texbook pricing in Zenpundit’s latest post. In response, this is a reposting of a piece I wrote in October 2005 (before I joined the Chicago Boyz) on texbook pricing at the college level. I did a quick check, but if there are any broken links here, please let me know.]
I’ve been kicking around a screed on textbook prices for a while, and it’s mushroomed so that I think I’ve managed to write something that will upset everyone involved in the debate. Which is probably reasonable, give how much blame there is to go around. I have a hunch that an unpopular and lasting social or market phenomenon always has multiple roots, or else social and market forces would sweep it away in short order. I think the rising price of textbooks in the US is a good piece of evidence for that theory.