It looks like one of the most nefarious bubbles in the country could soon collapse.
Writing on his Carpe Diem blog, Professor Mark Perry posts pretty convincing evidence that skyrocketing textbook costs are about to come to an end.
Poor college students (or their parents) can thank the Internet.
He uses the example of Rittenberg and Tregarthen’s Principles of Economics, a textbook used at 2,000 colleges, as an example.
Currently a hardback version costs $200.
But “the online version [is] totally free, the other options are $35 for a printed black and white version, $90 for full colour version, a print-it-yourself version for $25, and the e-book version for $25. Students can also purchase individual chapters at a reduced cost.”
Here’s a look at book textbooks versus home prices and CPI.
Photo: Mark J. Perry/Carpe Diem