The College Textbook Bubble Is Out Of Control

Anyone who has purchased college textbooks knows that they’re expensive.

However, it might be surprising how quickly prices are rising.

Professor Mark Perry of the Carpe Diem blog has been following this bubble closely, writing about the various efforts to reverse the trend.

In a new post, he charts textbook prices against CPI and other goods thar are seeing prices skyrocket.

From Perry:

The 812% increase in the price of college textbooks since 1978 makes the run-up in house prices and housing bubble (and subsequent crash) in the 2000s seem rather inconsequential, and  the nine-fold increase in textbook prices also dwarfs the increase in the cost of medical services over the last three decades.  Compared to the 250% increase in the Consumer Price Index (CPI) over the last 34 years, college textbooks have risen more than three times the amount of the average increase for all goods and services.

Here’s the insane chart:

textbook inflation

[credit provider=”AEI, Carpe Diem” url=””]