Slashdot Mirror
For Americans, Imported Textbooks Can Be Cheaper
mblase writes "The NYTimes has an article (free reg required, someone'll post the Google link any minute now) about how the Internet has trumped capitalism yet again -- the very same college textbooks used in the United States sell for half price, or less, in England. One sophomore imported 30 biology books this fall and sold them outside his classroom for less than the campus-bookstore price, netting a $1,200 profit." Wait 'til they shuffle the problem sets.
I imported my math book for my freshman math class last year from England. I bought it from a big UK bookstore (I think it was Allwell) and I paid something like $45 shipped for it to the US. Same edition as the one the bookstore had. Same ISBN number. Hardcover, etc...all in all, identicle to the one I would have bought at the bookstore on campus. The bookstore (and all US bookstores) sell that book for $120 or so, even used it's $80 at the bookstore.
I hate textbooks....99% of the time they are total ripoffs. The only textbooks I own that I think are useful I saw in the college bookstore, and bought used on half.com for my own personal use-not needed for any class.
I live in New Zealand, and textbooks here cost about half price in retail shops than they would to import them from the US. In one of my papers a couple of years ago, the lecturer's recommended textbook was only available in the US and cost around $NZ230. Typically, a textbook here will be around $NZ100. Because of this huge cost, hardly anyone bought the textbook, even though the lecturer had arranged a deal where we wouldn't have to pay for shipping. Most of us were very surprised to hear that the situation was the same for most textbooks (ie, about twice the price in the US for exactly the same book).
American publishers sell their books cheap in third world with the pretext that the students can't afford expensive text books. However, the truth is that they are doing dumping and hurting the local publishing industry. If you can get K & R C programming book for less than $2 in India, why would any Indian professor write another book on C? The only way to prevent such dumping is to send back these books back to US and that would teach a nice lesson to big publishers here
I bought mine K&R C book and many other books from India and good to hear that others too are getting the word out.
The only piece of this that really surprises me is that the kid was able to sell enough books to make up for the overhead of shipping. One would expect some guy selling books to be cheaper than the on-campus store. No rent, not utilities, and no customer service. What happens when, say, someone who bought from this kid finds that half of chapter 6 is missing? He's out of luck. Theoretically, at a book store (I know, I know, university books stores are reknowned for "you bought it, you deal with it" attitudes), you could return it for a whole book.
This kid has become an active participant of our free market economy. Identify a product people want or need (the book), identify a way to cut the cost to that customer (resale and no guarantee), and do business where the customer already is (outside the class where the book is needed).
If you would like to be a leader with a large following...drive slowly down a windy two-lane road
the printing and binding is often pretty bad.
Most of the students from South America and Asia bring these books from home, and often they are essentially softcover photocopies. Still worth it to get a $120 book for $20, as long as you don't need it for a life-long reference.
Both prescription drugs and books -- 10x the price in the USA than anywhere else.
Wrong, perhaps but isn't "frightening" a little over the top?
What I'm listening to now on Pandora...
My aunt used to be a managing editor for HBJ, which publishes a lot of textbooks. The whole thing is a scam. They make sure text books are "revised" every year, usually by changing one line (thats right) and calling it a new edition.
Publishers like HBJ make money hand over fist on textbook sales.
CDE open sourced! https://sourceforge.net/projects/cdesktopenv/
I'm teaching some introductory humanities courses and every semester I receive a big pile of unsolicited desk copies of textbooks that would never consider using. It seems like our department mailboxes are stuffed full of mysterious FedEx packages from publishers whenever I show up at the department. The books are printed on crappy paper with terrible binding.
But it gets worse. It's at the point where we have textbook pushers roaming the halls and crashing my office hours. I kid you not! Instead of watches lining their trenchcoat, they try to "hook me up" with desk copies of textbooks that I don't need.
Of course, what they don't tell you in their pitch is how much the students are being charged for their books. The idea appears to be: Why should I care when they're free for me? Out of curiosity, I checked. A shoddy (both in content and construction) 140p small paperback textbook which was being offered to me would cost almost US$80 for each of my students. That's about $70 more than a paperback novel of comperable size and print quality. Of course, the cost of all the sleazy hard selling the publishers do gets passed on to the students.
I imagine that people complained. I didn't formally (I did recently throw a pusher out of my office somewhat undiplomatically). To appease us, publishers have stopped imprinting desk copies as such, foregoing the familiar "evaluation copy, do not sell" markings. Colleagues of mine are just selling these things back to the bookstore where they reemerge as used textbooks for the following semester (apparently, some professors somewhere do teach from that crap). I think I will sell mine as well, but I initially felt dirty about it, because strictly speaking, all those unsolicited and unwelcome gifts were paid with the money of my students. So I decided that I will throw my students a "textbook feast" at the end of the semester. I'm serious, I'll be able to buy quite a few large pizzas.
Another reaction to all this unpleasantness: for the first time, I'm teaching a class with no textbook at all. All the readings are "on reserve," which is handled through online PDF's that I encourage the students to print out. It's a lot of printing, but only of the stuff they have to read, and they would have to do some of it anyway, since there is no anthology that has all the readings I want to cover. It's worked out great, and I want to encourage others who are in my position and have this option to follow suit.
They teach you this in econ101, it's called price discrimination. If you can judge exactly what each person is willing to pay and then set that as the price, you will maximize your profit. You can easily show this using some "area under the graph" explanation. The classic example is the movie theater ticket prices. The operators know that there are some people out there that would like to see the movie, but not for the full admission price. So they offer senior citizens a $2 discount, for example. They have realized that senior citizens, as a group are willing to pay less for things, and because it's easy to categorize people by age, it's easy to set prices that take advantage of this. The ultimate goal of discriminatory pricing is to be able to set each price for each ticket individually, based on some omniscient knowledge of what that person is willing to pay.
Anyway, this applies to the textbook industry as well. The publishers have realized that they have two sets of customers that are easily segregated, and so they can set different prices for these different groups of people. They've discovered that Americans are willing to pay a lot more for books, perhaps because as a group the American college students tend to have a lot of money to throw around. (Note that I'm not saying that college kids are all rich, just that if you're going to college you likely have enough money to support the many thousands in tuition, or you have loans and financial aid... either way you are spending a lot of money on education.)
Anyway, they've determined that as a group Americans are willing to pay more than people in those other countries, and therefore it makes perfect sense to charge more. Part of this I'm sure is due to different standards of living, and all the other stuff they use to justify it. But in the end it just boils down to the simple fact that if you can divide your customers into groups based on what they're willing to pay and then set prices accordingly, you will maximize your profits.
I can just hear a prof saying something like, "Oh, by the way, don't buy a used copy of the text for this class. The content has changed significantly from last year."
Time-Mirror got bought by Tribune Corporation a couple of years ago. Tribune sold off the subsidiaries that didn't fit with their core identity of news media so I have no idea where that particular subsidiary ended up. My guess is it doesn't matter. On the other hand, I know of at least one prof who required his own text book and then refunded to the class what he made on them buying it. Some people are fair but don't count on it.
They that can give up essential liberty to obtain a little temporary safety deserve neither safety nor liberty.
Ben