The Economics Of Textbooks

“College students now spend more than five billion dollars a year on textbooks, while states spend another four billion on books for elementary and high-school students. And the revenue is not being spread around: five publishers account for eighty per cent of new college-textbook sales in North America. But dominance has its discontents, and textbook publishers are routinely denounced as price gougers. The average price of a book is around fifty dollars, and many, particularly in the sciences, will run you well over a hundred.”