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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.

84 of 678 comments (clear)

  1. Not capitalism by pavon · · Score: 5, Insightful

    ...about how the Internet has trumped capitalism yet again...

    No should be: how the free market internet has enabled capitalism to trump corporate price fixing.

    1. Re:Not capitalism by Otter · · Score: 4, Interesting
      I also liked "We think it's frightening, and it's wrong, that the same American textbooks our stores buy here for $100 can be shipped in from some other country for $50." in the article.

      Wrong, perhaps but isn't "frightening" a little over the top?

    2. Re:Not capitalism by frankthechicken · · Score: 2, Interesting

      No should be: how the free market internet has enabled capitalism to trump corporate price fixing.

      Very true, what I would be interested in is how much import duty the bloke had to pay. It is one thing that I sometimes forget when importing to the UK.

    3. Re:Not capitalism by rnd() · · Score: 2, Informative

      It's neither wrong or frightening. It's simply good for consumers. Nobody cares if you import digital watches or microchips, so why should anyone care about books?

      Plus, the college textbook market is a racket.

      --

      Amazing magic tricks

    4. Re:Not capitalism by kfx · · Score: 2, Informative

      All you need to do is put the book up on Amazon. It doesn't matter what edition it is, somebody will buy it and you'll get a lot more than the $5-$10 that campus bookstores pay for used books (even the ones they need!).

      Conversely, if you need books, get them on Amazon. I haven't RTFA but I'm betting the morons haven't considered just buying the books online (as opposed to importing them, that's insane) instead of on campus.

      I've been getting my books used/new on Amazon for over a year now, at a savings of 30-60% each quarter, which results in hundreds more in my pocket than I would otherwise have. Plus I can put them right back up for sale when I'm done, getting all my money back (less shipping, which runs up to $12 for coast-to-coast priority mail--Amazon's shipping allowances are a farce so don't expect any real help there).

    5. Re:Not capitalism by DaveAtFraud · · Score: 4, Interesting
      Plus, the college textbook market is a racket.
      You probably have no idea how right you are. I used to work for a subsidiary of Times-Mirror Corporation. At a meeting of technical leads in the mid/late '90s the discussion from the subsidiary that published college text books was how to leverage technologies such as SGML/XML to create the ability for profs to customize the content of the text book they used in class each year. The motivation for this was not to allow the prof to select the best content for the course (this was just the marketing angle) but to destroy the market for used text books.

      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
    6. Re:Not capitalism by adrianbaugh · · Score: 2, Interesting

      At Oxford it was unheard of for a prof to require their own textbook; they generally provided a reading list of about 30 or so books for their courses, most of which could be found in the college libraries or the Radcliffe Science library. Occasionally they listed their own books, but again these were readily available in the libraries. And for the rare cases where books were either so hard to find in the libraries or so useful that every student pretty much needed one there was a thriving second-hand market in textbooks organised both on college notice boards and by the book shops in town.

      The practices I'm reading about here sound just about as dishonest and immoral as the ones Feynman wrote about in "Surely you're joking?"

      --
      "'I pass the test,' she said. 'I will diminish, and go into the West, and remain Galadriel.'"
      - JRR Tolkien.
    7. Re:Not capitalism by MichaelDelving · · Score: 2, Funny

      No wonder the poor college students can't afford to pay for CDs. Instead of picking on the file sharers, the RIAA should go after the text publishing industry.

  2. Did he get the bill from Customs yet? by winkydink · · Score: 4, Insightful

    It often takes a couple of months for the duty bill to show up. Ask me how I know. :(

    --

    "I'd rather be a lightning rod than a seismometer." -Ken Kesey

    1. Re:Did he get the bill from Customs yet? by Texas+Rose+on+Lava+L · · Score: 3, Insightful

      He'll get the bill from Customs around the same time he gets the bill from the IRS. He did make a profit from the sale, after all.

    2. Re:Did he get the bill from Customs yet? by smittyoneeach · · Score: 3, Funny

      Ask me how I know.
      Derive your epistemology. Be concise, thorough, and use an even mix of at least three styles for citation.
      Give an even treatment to both Oriental and Occidental thought, from ancient to modern times, and and a healthy dose of Islamic thinkers, so the pseudo-Muslim |-|4> You have one hour and fifty minutes.
      Good luck.

      --
      Get thee glass eyes, and, like a scurvy politician, seem to see things thou dost not.--King Lear
    3. Re:Did he get the bill from Customs yet? by zrail · · Score: 2, Interesting

      You have to file a tax return if you make over USD 3500. However, it would be fairly easy to hide this income since he didn't pay any tax on it to begin with.

    4. Re:Did he get the bill from Customs yet? by bwhaley · · Score: 2, Interesting

      It often takes a couple of months for the duty bill to show up. Ask me how I know. :(

      Can you expand on this a little? I'm interesting in seeing what sort of costs go into have things imported from overseas.

      --
      "I either want less corruption, or more chance
      to participate in it." -- Ashleigh Brilliant
    5. Re:Did he get the bill from Customs yet? by brett42 · · Score: 4, Insightful

      I just checked customs.gov, I found this. (pdf) It seems to indicate that importing books is free. Has anyone else gotten a customs bill for importing textbooks? I'd really like to know since I'm now seriously thinking about using amazon.co.uk next semester.

    6. Re:Did he get the bill from Customs yet? by mperrin · · Score: 3, Insightful
      I can say for sure there's no import duties on books from England, at least not for personal-sized purchases. (I make no promises if you're trying to buy a shipping crate full of 2,000 texts!)

      How do I know? I purchased an astrophysics text from England a while ago, and never paid any import duties. I didn't think much about it at the time - it's a book from a British publisher, so I just bought it directly from their web site. No sweat. Meanwhile, my girlfriend also recently bought the complete Harry Potter box set of the British versions from Amazon.co.uk. No import duties there, either.

    7. Re:Did he get the bill from Customs yet? by orbital3 · · Score: 4, Funny

      Smitty, this is your philosophy professor. Showing off the words you picked up in class in a Slashdot post won't make your midterm exam grade any better. Sorry. :*(

      Sincerely,
      The Prof

  3. Trumping Capitalism?? by Flounder · · Score: 5, Insightful
    This is capitalism at it's pure form. Finding a product in demand, selling it at a price that undercuts the competition, and making a healthy profit.

    At least until he's trumped by the powers of communism (lawsuits by the school or the textbook becoming illegal to import under the DMCA)

    --

    No boom today. Boom tomorrow. There's always a boom tomorrow. - Cmdr. Susan Ivanova

    1. Re:Trumping Capitalism?? by Triskele · · Score: 4, Insightful

      I'm sorry but this has nothing to do with capitalism. I know that for some of you capitalism == free market but they are quite separable concepts. Capitalism is to do with capital, the integral of money (i.e., the derivative of capital is money originally in the form of a dividend). What you are seeing here is the triumph of an international free market. It might help if some of you lot had actually read Marx rather than ranting on about "oh this would never have happened with communism". The founder of communism had quite a lot to say about this. "Das Capital" is still the root of much modern economic theory.

      --

      --
      USA: home of the world's largest terrorist training camp.

    2. Re:Trumping Capitalism?? by Brandybuck · · Score: 2, Funny

      "Das Capital" is still the root of much modern economic theory.

      And "Das Capital" was just a warmed over restatement of "The Wealth of Nations", with some political diatribe thrown in to keep the reader's interest.

      --
      Don't blame me, I didn't vote for either of them!
    3. Re:Trumping Capitalism?? by 1010011010 · · Score: 2, Insightful

      Das Kapital? Free market? In the same breath?

      The Wealth of Nations might be a more appropriate work to point to as "the root of much modern economic theory," as opposed to that polemic, "Das Kapital."

      Unless you're an unrepentant Marxist, of course.

      --
      Napster-to-go says "Fill and refill your compatible MP3 player", which is a lie. It's not MP3. It's WMA with DRM.
    4. Re:Trumping Capitalism?? by Watts+Martin · · Score: 4, Insightful

      I think "trumping capitalism" was a silly description, but I also think your analysis is a little too glib.

      Neither of these (the original price, or the re-importation) are examples of a pure free market system. Copyright ensures that the textbook is only available from one producer (the publisher); there's no competition in production at all, therefore, but only among distributors. And, as someone else pointed out, the problem being solved by the text-book reimporting is essentially a problem of price-fixing. The producer is able to set baseline prices differently in different countries in a manner completely independent of demand. (If a course requires book X, you don't get book Y on the same subject that's 15% less, you get book X.) It hardly requires anything that smacks of "communism" for the reimportation to be stopped; it just requires the producers to raise prices in other countries to make this no longer cost-effective.

      This kind of end-run is a makeshift way to address the problem, but the real problem is addressed only by radical deregulation (removing the monopoly power of copyright) or greater regulation (imposed price controls on the market). Both of those would get different sets of people highly outraged, of course, and the former one is becoming a classic neolibertarian dilemma: "intellectual property" is arguably a form of property right, the virtual foundation of capitalism, yet also arguably a form of government-granted monopoly.

    5. Re:Trumping Capitalism?? by Elfan · · Score: 2, Insightful

      How does the study of capitalism *not* relate to the study of free markets? As you might have guessed from the title Das Kapital is about capital, not communism, socialism, or "Marxism."

      You are correct that Smith is a more important thinker to modern Econonomics, however, Marx is probably number two.

    6. Re:Trumping Capitalism?? by Zeinfeld · · Score: 2, Insightful
      How does the study of capitalism *not* relate to the study of free markets?

      The term was like many political labels initially applied as a term of abuse. In this case it was Marx who identified control of capital as the means by which the upper class kept the lower orders suppressed.

      I strongly suspect that if it had not been for the scare that Marx gave Victorian Britain with his predictions of revolution that the revolution he predicted would have occurred. Social conditions were pretty bad in the 1860s and if it had not been for the social reformers it is doubtful that the UK would have avoided revolution.

      The 'capitalism' that Marx railled against has relatively little in common with modern economic systems. The closest comparison would be to the 'crony capitalism' of Asia or Halliburton's activities in Iraq.

      The role of capital in capitalism has changed significantly because it is no longer a scarce resource in the way it once was.

      Incidentally if the free market was the root of capitalism then the last farm bill would make the Us a communist nation. The US is one of the most protectionist powers on earth, particularly under this administration.

      --
      Looking for an Information Security student project suggestion?
      Try http://dotcrimeManifesto.com/
    7. Re:Trumping Capitalism?? by Phronesis · · Score: 2, Insightful
      Nations might be a more appropriate work to point to as "the root of much modern economic theory,"

      After all, nobody would listen to Marx if he wrote this:

      In civilized society, it is only among the inferior ranks of people that the scantiness of subsistence can set limits to the further multiplication of the human species ; and it can do so in no other way than by destroying a great part of the children which their fruitful marriages produce.... It is in this manner that the demand for men, like that for any other commodity, necessarily regulates the production of men, quickens it when it goes on too slowly, and stops it when it advances too fast.

      The Wealth of Nations, Book I, Ch. VIII

    8. Re:Trumping Capitalism?? by rnd() · · Score: 2, Insightful

      Generally, when people refer to capitalism (at least in the US) they are referring to some kind of free market capitalism. Capitalism is quite separable from a free market, as in nations like Korea. Free market capitalism is the economic system that maximizes individual freedom. Any other system, including non-free market capitalism, does not maximize individual freedom. The individual who imported the books did so because he is free to do so, hence the concept of freedom behind the idea of free markets. He is a capitalist, because he invested his capital in the books, and increased the amount of capital he owns (after making a profit).

      --

      Amazing magic tricks

    9. Re:Trumping Capitalism?? by rnd() · · Score: 2

      You are right about the farm bill. It would more properly be called the "farm goods tax", and should ideally be itemized on everyone's pay slip so that they know how much produce really costs. Bush is smart to lower taxes, but stupid to create hidden taxes such as farm subsidies (or any subsidies, for that matter).

      --

      Amazing magic tricks

  4. That's because stuff costs more in general by EvilStein · · Score: 3, Insightful

    Average college tuition is up 40%
    Textbook prices have gone up as well.

    My paycheck, however, has most certainly *not* gone up 40%. Sad to say that average CEO compensation has gone up 17% over the past year.

    No wonder people are importing books.. they can't afford to buy the stuff here!

  5. I'll second this-I imported my mMath book by BigDish · · Score: 5, Interesting

    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.

    1. Re:I'll second this-I imported my mMath book by Zork+the+Almighty · · Score: 2, Informative

      The bookstore is not getting it for $40. They are probably paying closer to $100, buying from an American distributor. The article mentions that university bookstores are also looking at foreign suppliers as a way to improve their margins and increase sales.

      --

      In Soviet America the banks rob you!
  6. I've purchased textbooks from other countries by muon1183 · · Score: 4, Informative

    This semester, I purchased several of my books online from sellers in other countries. One of the books, which came from Hong Kong, arrived the morning after I had purchased it. I purchased the book for less than 1/3 of the US price, and the seller was still making enough profit to be able to overnight the textbook to me. If this isn't a sure sign of an overpriced book, then I don't know what is.

    --

    There's no sig like SIGSEG
  7. In New Zealand... by Anonymous Coward · · Score: 3, Interesting

    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).

  8. Yeah by blackmonday · · Score: 3, Insightful

    First medicine for the sick and elderly, now college textbooks. Why are Americans pushing profit margins up for these companies by paying higher prices than other prosperous countries?

    1. Re:Yeah by HBI · · Score: 2, Interesting

      The trade barriers that exist based upon national borders allow companies to practice alternative pricing schemes. Obviously, people are willing to pay the higher book prices in the US.

      Those who are smart enough to figure out a way to evade it just won. Those who don't, lose.

      --
      HBI's Law: Frequency of calling others Nazis is directly correlated with the likelihood of the accuser being Communist.
  9. What about safety? by eap · · Score: 5, Funny
    How can we be sure textbooks imported from other countries have the same strict safety guidelines as those bought in the U.S.?

    We must enact strict legilation to protect American citizens from this threat.

  10. Re:do the textbooks use british spelling? by Anonymous Coward · · Score: 2, Funny

    Well, if you want to be really accurate (and horribly picky), the Americans like dropping a few vowels here and there, not the other way around. ;)

  11. Internet furthers capitalism by DeepDarkSky · · Score: 4, Insightful

    The Internet, if anything, empowers capitalism even more precisely because of this kind of thing. The Internet enlarges the market, making it possible to compete at a level like never before by eliminating geographic boundaries (to an extent) and reduce localization of markets.

    Why do these kinds of exclamations make it into the story anyway? I thought there were editors for these things....oh wait, this is slashdot, nevermind.

    1. Re:Internet furthers capitalism by cgranade · · Score: 3, Insightful

      Why do these kinds of exclamations make it into the story anyway? I thought there were editors for these things....oh wait, this is slashdot, nevermind.
      Look at the tagline for the article: "from the this-trumps-capitalism-how-exactly dept," and you'll see that the editors did in fact take issue with that exclamation to some degree, though not strongly enough to edit the article itself.

      --

      #define DRM chmod 000

  12. buying from the US by rendermaniac · · Score: 2, Informative

    Funny. I always find it the other way around. Admittedly my only experience is really with Amazon. The UK version often has less books on offer, at higher prices and longer delivery times. It's often been simpler for me to buy at the US store in US dollars and wait the extra 5 days than buy it here.

  13. Cheap overseas textbooks are harmful to them by u19925 · · Score: 4, Interesting

    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.

    1. Re:Cheap overseas textbooks are harmful to them by prash_n_rao · · Score: 2, Informative

      Maybe I am going off on a tangent, but...

      American books to hurt Indian authors/publishers? That is one of the most ridiculous theories I have ever heard.

      I am an Electronics Engineer.

      In general, in my field, Indian authors/publishers don't offer any competition to American ones. Have you come across a book on programming in C by Balagurusamy, an author from IIT? A few programs given there don't even compile!

      Have you come across text books by Mittal & Mittal on various fields in circuits? They are the cheaper plagiarized versions of infinitely better books by Millman, Halkias and Taub.

      When you said "the truth is...", how exactly did you arrive at this "truth"? When you come here, you will realize that no self respecting student reads the crap by most Indian authors.

      Don't get me wrong... there are some excellent books by Indian authors. But, I assure you, such authors are a rare minority. But even their books are published by American publishers like "Tata McGraw Hill" and "Prentice Hall India".

      --
      This is not my sig.
  14. example by Wakkow · · Score: 3, Informative

    Here's an example for a book I needed this quarter:

    Digital System Design Using VHDL

    $59 (shipping included) to get it from the UK shipped priority to me in California. $115 at amazon new, $65 or so used. Took only a few days, the same it'd take if I bought it in the US, and probably quicker than the Media Mail that amazon marketplace and half.com usually offer.

    Once there was an optional book I wanted to study from that went for about $50-$60 on half.com. Saw a used one on ebay for $15 that looked pretty much new when I got it.

  15. Economies of scale and customer service by jrsimmons · · Score: 3, Interesting

    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
  16. college bookstores are the problem by markov_chain · · Score: 4, Informative

    A textbook was selling for $120 at my local college bookstore. This was the list price! I bet they would charge more if the list price let them. Anyway, I got the same book on Amazon for $60, free shipping, which was in the US. So it's not the foreign books that are cheaper-- the markup happens in the college bookstore.

    --
    Tsunami -- You can't bring a good wave down!
    1. Re:college bookstores are the problem by saitoh · · Score: 2, Informative

      Not every bookstore is like that. Amazon posts a price of $127 for my Systems Analysis book (Systems Analysis Design Methods by Whitten, Bentley, and Dittman), and I paid $131 in my bookstore for it. Thats average. Students at UMPI have looked on amazon, it doesnt help here. We have even had university and student senate committees dedicated to weather or not the bookstore is gouging and so far no book that the bookstore sells is marked up more then $5.

      Yes, the markup happens at the bookstore, but at the same time, its not nearly as much as you say *everywhere*.

      --
      We don't need an "overrated" so much as we need a "you completely missed the parent's point, dumbass..."
  17. Great deal, but ... by mfago · · Score: 3, Interesting

    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.

  18. This is outrageous! by Heghta' · · Score: 3, Funny

    "This is outrageous" was among the comments heard fom Jack Ripov, spokesman of the TBAA, the Text Book Association of America.

    He also stated that, "Selling those books at such low prices in America is obviously going to hurt quality. We spend a lot of money to make that our customers only receive top notch quality products. Now the market gets swamped with british textbooks that spell words like color or aluminun wrong, hurting the spelling of many students here, yes, very undermining what this country stands for. But we will not watch this idly!"

    This comment is obviously a reference to the soon to be introduced move to region-encoded textbooks.

    When asked how region-encoded textbooks would work, Mr Ripov was kind of enough to supply us with some basic details.
    "You see, everyone who wants to use a textbook will get a new device implanted into his brain ensuring that they only use textbooks from their Region. If you would start to read a textbook from another region, the device would simply tap into a neural interface and deactivate your eyes, effectively stopping you from violating our IP rights."
    When asked what about persons who would not have such a device implanted into their brains, Ripov replied: "Well, obviously we will have to deal with those unamerican IP-terrorists as well, but we have a strong case there that reading a textbook without a brain control device is in violation of the DMCA, and we will not hesitate to enfore our rights in court."

    --

    Ash nazg durbatulûk, ash nazg gimbatul
    ash nazg thrakatulûk, agh burzum-ishi krimpatul.

  19. BIAA - Re:Trumping Capitalism?? by leoaugust · · Score: 5, Funny

    In the latest news, since the PMCA (Printed Millenium Copyright Act) has passed in the last few hours, the BIAA (Book-ing Industry Association of America) has started printing on books that "books printed in other regions of the world are not to be imported in the USA. First offence is punishable with a reprimand letter, and if the felony is repeated, the crime is punishable with 10 years in prison."

    The guidelines for one relevant section invoking Non-Patriotic Book-ing Transactions in the drafting the PMCA had been lifted from the MPAA strategy of dividing the world into "regions" so that products were deliberately crippled to work in only one region out of many that had been drawn up by the MPAA. In addition, the redrawing of the printed-book regions drew upon the recent legislative successes in the re-districting of Texas, also called Xtreme GerryMandering.

    In an other related development, the Patriot Act has been invoked to open and check all book packages coming into the US. Additionally, the Ashcroftian-Feds have started entering public libraries and private libraries (i.e. book collections in the homes or dorms) to enforce these laws. As they do not have to intimate the suspects before and after the act, most people are unaware that the feds have been rummaging thru their books. Some private diaries have been exposed, and a clique of people referring themselves as /.'s (WTF) have especially been targeted for subversive reading of "filtered" news that has been the special target of the POTUS.

    --
    To see a world in a grain of sand, and then to step back and see the beach where the sand lies ...
    1. Re:BIAA - Re:Trumping Capitalism?? by jostallin · · Score: 2

      He is only selling the books to people who are capable of 'region-free' reading. Those who can only read Region 1 books are out of luck!

    2. Re:BIAA - Re:Trumping Capitalism?? by russotto · · Score: 2, Informative

      You think this is funny, but this sort of case has actually already been litigated, and some courts HAVE found that importing legitimate copyrighted material for resale IS a violation of copyright. The US Supreme Court disagrees, and as a result the US is in violation of some international agreement or another. Naturally the govt (legislature and executive) is working on ways to bring the US into compliance.

  20. This is hardly just Britain. by neko+the+frog · · Score: 5, Insightful

    This is a rather long essay I wrote a while back on the subject, so bear with me on this.

    Deep within downtown Seoul, on the bottom floor of one of the city's innumerable high-rises, is the Kyobo Bookstore, the largest of its kind in Asia. Along the West wall of this 2.3 million title shopping center is a selection of English books, and a selection of college textbooks larger than that many American campus stores. A visiting American student majoring in for example mathematics would be astounded upon browsing the selection, not because of the wide variety of books available, but because the exact same book which he or she spent over $120 on for the previous semester is available here for $30.

    Many of the business practices of the textbook industry are well known, if only subconsciously, to all college students. The nearly oligarchical cartel in the textbook industry drives the price of schoolbooks to unreasonable levels, between three to five times fair market value for equivalent non-scholastic texts in North American school bookstores (even though they can be purchased cheaply overseas), by means of a captive student population who does not have a choice in which textbooks they much purchase and price-control mechanisms such as frequent yet marginal revisions to short-circuit any used book market and "value-added" features such as subscription-based Internet site access, partly so as to satiate an expectation of high profits by textbook authors in an over-saturated industry.

    The fact that textbooks are extremely expensive is difficult to debate. A quick browse in Amazon.com's textbook section shows that the average price for the top five books in each of their categories, is currently $89.47. Only one book in their top Mathematics section is sold for less than $99--and that book is only available used (Amazon). Since it is not uncommon for professors to require more than one book for a class, the financial burden on students can easy top five hundred dollars per semester. Furthermore, the cost of textbooks severely outpaces inflation: the United States Department of Labor indicates that the wholesale price of textbooks has increased 65 percent in the past decade, nearly six times the average increase in producer prices on the whole (Hubbard). In contrast, it is quite rare to find a hardcover book online or at a physical bookstore, even technical in nature, that retails for over $45.

    The traditional method for students to offset these costs is the used book market, usually also facilitated by the campus bookstore. However, the industry has several methods of short-circuting this market. Most obvious is the frequent revisioning of textbooks, with as little as six months between versions, make previous versions economically worthless because even if the changes are as mundane as rearranged exercises (not uncommon in math and physics texts), publishers will stop printing the older edition, forcing professors to switch to ordering the new editions or risk alienating students who cannot find used copies of previous editions. or adding in "value-added" items such as CD-ROMs, magazines, or Internet Web Site access which are rarely used by instructors but serve to prevent used book sales.

    In an effort to get instructors, departments and school boards to adopt a text, publishers go to great lengths to entice faculty. Perhaps one of the most ridiculous instances of textbook publishers trying to win instructor favor was an attempt to woo Richard Feynman, one of the most prominent physicists of the 20th century and a professor at the California Institute of Technology. Mr. Feynman was offered some 300 pounds of textbooks to review and recommend, and the promise that "We'll get someone to help you read them." One book he was asked to review was blank ("We just need a recommendation"), and when he delayed for several days (allowing a bidding war which cost the publisher two million dollars), Feynman was offered gifts ranging from fruit baskets to an all-expense-paid tou

    --
    -- the opinions stated above aren't those of my employer. in fact, they're probably not even my own. you know what, ju
  21. Efficient markets theory, my friend by Atario · · Score: 3, Funny

    And the Internet teams up with it again. "Leveling markets here there and everywhere! Let's ride, trusty chum!"

    --
    "A great democracy must be progressive or it will soon cease to be a great democracy." --Theodore Roosevelt
  22. Standard Textbooks by Detritus · · Score: 3, Insightful
    Why should textbooks for standard subjects, say calculus and physics, cost more than a Dover paperback? These are subjects that change very little from year to year. Why not have a standard set of textbooks for these subjects and keep printing them for decades, without gratuitous changes to create new editions.

    I inherited a friend's old college textbooks from the 1960s and I was surprised at how small they were. They were the size of normal hardcover books, not the gargantuan monstrosities that I see in the local college bookstore.

    --
    Mea navis aericumbens anguillis abundat
  23. Textbooks=$$$ by christurkel · · Score: 4, Interesting

    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/
  24. Re:Book stores are the suck by godzilla808 · · Score: 2, Insightful
    Having worked at a college bookstore, I can tell you a few "trade secrets." Any bookstore in their right mind prefers to sell used books, it's just easier in many ways. Now, two big things conspire to keep bookstores from buying back your texts. Number one, it is often very difficult to get professors to order books on time. If a bookstore doesn't have a request from the prof, they can't buy the book back from you. Second, publishers are changing editions on average once every 2 years (average!!). Publishers do not make money on used texts, therefore they update books constantly to keep the supply of used books to a minimum.

    I always had a skeptical view of the university bookstore until I worked there!

    --
    ...///...
  25. Evolution by xixax · · Score: 5, Funny

    I hear that some foreign biology text books talk about a concept called "evolution" that is considered to be immoral in many US states.

    Xix.

    --
    "Everything is adjustable, provided you have the right tools"
  26. Did you read the article to the end? by Atario · · Score: 3, Funny
    Mr. Sarkis said Williams's campus bookstore made the high costs all too visible. "They really rubbed it in," he said. "If you were the highest spender of the day, they'd ring this little bell and say they had a new winner, and give you a lollipop. I got the lollipop twice."
    Get it?

    "SUCKER!"

    Now that's balls.
    --
    "A great democracy must be progressive or it will soon cease to be a great democracy." --Theodore Roosevelt
  27. New law to prevent this by ljavelin · · Score: 2, Insightful

    "The practice of selling U.S. products abroad at prices keyed to the local market is longstanding. It's not unusual, it doesn't violate public policy and it's certainly not illegal. But publishers are still coming to terms with the dramatic change in the law."

    Just you wait - I wager that new laws and publisher licensing rules will be created that manages to severely curb such importation. Heck, it works with prescription drugs: "oh, the drugs are unsafe in Canada!". Bullshit!

    Congress is all for screwing all of us. Freakin' fascism is back.

  28. God help students of today by Saint+Stephen · · Score: 5, Insightful

    When I went to UNC in 1989, in-state tuition was something like $300/semester, plus maybe $100 worth of books. (Math books were expensive even then, maybe $250 for a semester of books by senior year).

    You guys today are getting totally raped by the Banks & Credit lenders -- they're the ones conspiring to launch you into life $100,000 in debt and spend the rest of your life that way. You bitch about Haliburton and the oil companies -- but it's the Equifax/Visa/&c.s of the world that are your true enemies.

  29. Here we go again by mitchkeller · · Score: 3, Informative

    Before we all start blaming the bookstores for this, let me make it clear that I have worked with shipping/receiving/pricing textbooks, and I know that the publishers set the prices. My campus bookstore has about at 23% margin on textbooks, which basically covers paying rent to the Union, paying employees, and paying for the shipping costs to get the books. They are fortunate enough to be under the Division of Student Affairs, which means that they have a mandate to get as many used books as possible. They also pay well for used books that are needed.

    OK, so now we get to the blame part. I, too, have purchased several texts from the UK (usually Blackwell's, but I always search AddAll first to find the best price. I don't know why the publishers can afford to sell things for 50% of the US price overseas, but it's atrocious. There's a comment on here about International Editions, the cheap paperback reprints sold in the Asian market, and I should be clear that the ones from the UK are the same quality hardbacks (with the exact same content) as the US editions. However, publishers have started catching onto the fact that US students are importing the books, and now there are some books that they won't let UK retailers export (e.g., Haviland's Anthropology ). The publishers are a bunch of money-grubing bastards, and most of them aren't even US-owned, so it makes it even more fun.

    I've said it before, and I'll say it again. BLAME THE PUBLISHERS, not your campus bookstore. The best thing you can do is to search for these deals and take advantage of them. Be warned that the shipping time to the interior of the US (say, North Dakota) can be a little long, even with Air Mail, since it's no longer Air Mail when the USPS gets its hands on it.

    --

    "You will only be remembered for two things: the problems you solve or the ones you create." Mike Murdock

  30. Academic publishers are pond slime by Dr.+Spork · · Score: 4, Interesting
    If you think overpriced textbooks are terrible from the student's perspective, things look even more dirty from the other side.

    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.

    1. Re:Academic publishers are pond slime by DrEspenA · · Score: 2, Interesting
      We don't have the overpriced textbook problem to the same extent here in Norway, but it is there.

      I teach all my courses using PDFs of academic and business articles, with public web pages for the course structure (http://www.espen.com/courses) and a course distribution product called Blackboard, which is mostly crap but does limit content distribution to students with passwords. Only thing distributed on paper are HBS cases, but they're 3.50 apiece and no big deal.

      Works for most things - but I am lucky in that I teach business strategy and technology, for which good online material is not too hard to find. And the books I use are not textbooks, but business/tech books such as Shapiro and Varian's "Information Rules", which are written with a "real" market in mind.

      The trouble with this approach is that you can, at least for 101 courses, come under pressure to conform to "approved" curricula, often set by the publishers. At a US college with classes of 400+ students you are forced into automated grading and other labor-saving devices in order to to something other than teach - and then the prepackaged courses from the big publishers are a way out. In fairness, some of the textbooks are excellent. But $120 books are ridiculous.

      Anyway, MIT's Open Courseware Project is a great step in the right direction - not in that it makes content available, but that it gives a lot of teachers out there course structures to compare their own courses with and some much needed confidence in that they can deviate from the pre-packaged courses - since they do that at MIT.

      --
      Espen
  31. Region codes... by Dr.+Mojura · · Score: 2, Interesting

    I compared one book I needed for this quarter with the listing at the UK site and I noticed this.

    Pretty soon books will be like DVD's, and will have a region code to ensure they're only available where the corporations want them to be.

    --
    "Nothing exists except atoms and empty space; everything else is opinion." - Democritus
  32. Actually, it's the other way around by metroid+composite · · Score: 3, Insightful

    It's not so much that Brits throw in an extra vowel, as Americans started taking out vowels over the past hundred years or so. Having to adopt to a new spelling is kinda annoying, though in some cases the new spelling makes more sense (aeroplane vs airplane). Despite the advantages, however, I'd really prefer to keep the original spelling; partially out of historical interest.

    1. Re:Actually, it's the other way around by Nexus+Seven · · Score: 2, Insightful

      aeroplane is a two part word constructed from the Latin (a bit like television).
      aero meaning air, and plane meaning flat. Airplane is a fairly recent invention. I suppose it simplifies the word - perhaps we can start renaming all Latin/Greek-derived words.

      Astronaut -> StarSailor
      Television -> DistantSight
      Telephone -> DistantSound

  33. 17 USC 102 by yerricde · · Score: 4, Informative

    Pedantic. Do s/1201/602/g and it becomes correct. U.S. copyright law, 17 USC 602, bans commercial importation of copies of copyrighted works into the United States without the copyright holder's permission.

    --
    Will I retire or break 10K?
    1. Re:17 USC 102 by rossifer · · Score: 2, Informative

      U.S. copyright law, 17 USC 602, bans commercial importation of copies of copyrighted works into the United States without the copyright holder's permission.

      However, the SCOTUS decision mentioned in the article trumps USC. At least SCOTUS thinks so, since they were cognizant of that law when they made their decision...

      Regards,
      Ross

  34. Re:Not just the books by EverDense · · Score: 4, Funny

    I guess we British students should stop moaning so much.

    No, you've still got shithouse weather.

    --
    http://jesus.everdense.com/
  35. Universities in some places are taking action by saitoh · · Score: 2, Informative

    This was the topic of my Economics class this afternoon, and I've heard about it from other faculty. The professors at UMPI are considering buying (or have the bookstore buy for them, which is actually an option if we specifically request for the bookstore to order from another place) all of the books for a few classes from Britian as a test run to see how well it works. Even with VAT, shipping, and import taxes, the books generally work out to be aproximately $30 cheaper per book. One example that has been tossed arround is a Systems Design and Analysis class:

    Amazon.com (USA) = 127.10 USD

    Amazon.com (UK) = 37.99 BPS (british pounds sterling?)


    Sources:
    USA Amazon

    UK Amazon

    I used the same ISBN number to get more acurate results, and this is based off of amazon's selling price, *NOT* some third party who you can get it from cheaper in the "New or used" section. granted, the American one is not availible at the moment, but the list price is still there.

    --
    We don't need an "overrated" so much as we need a "you completely missed the parent's point, dumbass..."
  36. Re:Not just the books by heli0 · · Score: 2, Informative

    Harvard is a private university, Oxford is a government-funded university. In the U.S. government universities are funded by the individual states and tuition ranges from $1,500-4,000/yr, while many states such as Texas and Georgia waive the tuition fees for students who keep their grades above a certain level.

    Oxford weighs funding changes
    "despite Oxford's proud history and its impressive architecture, it is losing its competitive footing to America's top-tier colleges and universities, such as Harvard and Yale."

    --
    Whenever the offence inspires less horror than the punishment, the rigour of penal law is obliged to give way...
  37. Re:do the textbooks use british spelling? by mariox19 · · Score: 2, Funny

    That's because here in the U.S. we get charged a premium on vowels compared to what they sell for in the U.K.; so think on that before you go sounding so smug!!!!!

    --

    quiquid id est, timeo puellas et oscula dantes.

  38. Yes, but for different reason, used books by AHumbleOpinion · · Score: 2, Insightful

    Its a catch-22 situation. Save money by buying used books when available, this drives up the cost of new books you have to buy.

    When I was in school I was able to witness the "birth" of a textbook. I learned that students are in part responsible for the high prices. Textbook publishers try to recoup their costs (advances, manufacturing, marketing, etc) in the first year since there is a severe dropoff in sales for later years even when the text is still in use. This is due to the sale of used books, the publisher/professor gets nothing from these sales.

    I wonder if the British bookstores buy books back and resell them in later semesters?

  39. My experience by Quixote · · Score: 4, Interesting
    A long long time ago, when the algorithms bible CLR was in its first edition (yes, that long ago), I went over to our campus bookstore to buy it. It was listed at about $84 in the textbooks section. As I meandered around, I came to the general sci/math books section. And what do I see? The same CLR (exact same edition), listed at $76. Not a huge difference, but a difference nevertheless. I was dumbfounded: what kind of a person would mark up textbook prices for students??

  40. Re:Book stores are the suck by bcrowell · · Score: 2, Interesting
    Every textbook is written by a professor, right? And why do you think a professor would write a textbook if he wasn't even going to use it in his own classes? If there were parts that students didn't understand, or homework problems that were unclear, how would he tell without testing it on his own students?

    Of course there's a huge conflict of interest here. Personally, I use my own texts in my classes, but I address the conflict of interest issue by making the books free for downloading as a PDF from my web page. I'm sure some publishers would have a problem with that, but if it's just your own course notes, then there's really no excuse for not allowing your own students to download them for free, or photocopy them. And, uh, even if you wanted to, how could you stop them from photocopying them?

  41. Speaking as a professor by kurisuto · · Score: 4, Insightful

    I sure don't get any kickbacks for "forcing my classes to use 'upgraded' textbooks". I've never heard of such a practice. These days, I'm lucky if I can even get the publishers to follow the traditional practice of sending me a free desk copy for evaluation purposes; more and more often, publishers want me to pay for the text before I consider creating a captive market of 40 student customers for them.

    I share your anger about the problem of publishers charging unreasonable prices for textbooks. If I could find a low-priced textbook which is a reasonably academically sound choice, I'd choose it. Unfortunately, for every course I've ever taught, all of my choices have been overpriced. So what I'm forced to do is to make the best tradeoff I can between picking the most academically suitable text vs. saving my students as much money as I can.

    The only other option I see is to create my own inexpensive in-house textbook, but this is a huge amount of effort; it's much easier for me to simply use a prepackaged text. Producing my own text would be easier is if someone in my field would organize a single, well-ordered, referreed online repository of open-source chapters, exercises, etc. If such a thing existed, and if the college infrastructure existed so that I could just hand off my camera-ready pages and have the bound text effortlessly appear on the bookstore shelf without my having to rassle with copying, binding, and pricing details, then I'd consider putting the extra time into doing this.

    However, unrefereed course packs don't count as publications, and if you don't have enough publications, you don't get tenure--simple as that. If I spend time creating a cheap alternative for my students instead of writing research articles for peer-reviewed journals, then I'm significantly reducing my propects for my own survival. Those are the pressures I'm responding to.

    It would be nice if students organized and lobbied the administration to change their tenure evaluation criteria on this point. If it helped us to get tenure by creating inexpensive in-house texts, more of us would be doing it. Unfortunately, I don't foresee students doing this; the point is probably too abstruse from the perspective of students who never come into contact with the tenure process.

  42. To heck with England. Look at Indian prices!!! by Xthlc · · Score: 4, Informative

    I was curious, so I did a bit of searching. And proceeded to be flabbergasted.

    American publishing houses seem to operate secondary arms in India specifically for English-language technology books.

    Check this out:

    Introduction to Algorithms, 2nd ed: $79.95

    Introduction to Algorithms, 2nd ed: $5.73

    The C Programming Language [K&R]: $40.00

    The C Programming Language [K&R]: $2.10

    Design Patterns: $54.99

    Design Patterns: $7.11

    Granted, you have to wait a while for them. And there's probably tariffs that you have to pay. But still, I know where my next book purchase is coming from. :)

    1. Re:To heck with England. Look at Indian prices!!! by orulz · · Score: 2, Funny

      At $2.10 per textbook, I don't give a crap whether it falls apart halfway through the semester. Just buy two of them. Or three.

      (Of course there's shipping to worry about...)

  43. This is simple economics by onomatomania · · Score: 3, Interesting

    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.

  44. Re:Book stores are the suck by Jucius+Maximus · · Score: 2, Interesting
    "Now, two big things conspire to keep bookstores from buying back your texts. Number one, it is often very difficult to get professors to order books on time. If a bookstore doesn't have a request from the prof, they can't buy the book back from you. Second, publishers are changing editions on average once every 2 years (average!!)"

    And thirdly, the prices used bookstores pay students for used books are peanuts compared to what you get for selling the book outright to the next student. The one time I couldn't sell a $70 textbook, I took it to the campus bookstore's book buyback thing and they gave me $12 for it and then it was on the shelf for $52.50 again.

    If I buy a new book, I can sell it to the next person for 70-75% of the retail price. If I buy it used to begin with, then I usually sell it for $5 less than what I paid, or if I barely put any wear on it, then I sell it for the price I got it for. So it works out to about $5/semester/book for me.

    As to the issue of publishers changing the edition to avoid used book selling, professors at my university are smartening up too. They generally give out assignments/reading pages etc. for both the new and the old edition. I've heard a rant or two about how numerical methods (at a 2nd year university level) only changes once per 100 years and new editions are only for the reasons you mentioned.

    The market for selling textbooks to students has IMO turned pure evil and I try to short circuit it in any way I can short of outright theft. (And I won't photocopy books either.) I just don't buy their new product unless I *know* I can't get a used one anywhere or I will want to keep the book for myself in the long run instead of selling it.

  45. Plus they destroy second-hand book market by Kashif+Shaikh · · Score: 2, Informative

    Universities/colleges enforce professors to use the latest edition of books every 2 years. No buys the 5th edition if 6th edition is available because a) problem numbers are different b) chapters are shuffled around /w missing chapters

    Although some profs are nice and give problem sets using old and new edition of text books.

    So text-books have an EOL of 2 years.

  46. My college bookstore is cheaper! by megaversal · · Score: 2, Interesting

    I'm not sure why they're cheaper, but I compared the prices of the books I bought this semester to the prices on BookCentral.com (the website listed in the NYTimes article) with my school's bookstore ( http://www.book.uci.edu/ ) and my books were 40-50% cheaper from the bookstore. These are new, US edition books.

    Go figure.

    --
    Sig!
  47. That's nothing compared to India by Krellan · · Score: 2, Interesting

    That's nothing compared to India. There, many publishers of standard textbooks publish the same book at a steeply discounted price. This is to match local standards of living (the same reason for the much-discussed salary gap).

    I saw such classic CS books as K&R and UNPv1, published as "Eastern Economy Edition". The Indian person who owned the books said that they were bought for the equivalent of around $5 each! They are softcover, printed on really cheap paper (thin and not pure white), and generally produced as cheaply as possible in order to meet the low price. The page size is also reduced.

    http://www.niyam.com/writing/iconoclasts/niyamac ma y2k.html
    http://people.csa.iisc.ernet.in/~siddu/b ib/cs.html
    http://www-scf.usc.edu/~india/newstudentletter.h tm

    I was jealous, and wished I had been able to get books at that price during school. The content is exactly the same! Too bad there isn't an Amazon.co.in....

  48. India's biggest online bookstore by Sayan · · Score: 3, Informative

    hello all,

    You can try First & Second. They claim to be India's biggest online book store and have a nice 72 hour shipping to the US.

    Another one is Fabmart

    I have always used Economy Asian Editions printed in India because the original American / European editions cost at least 10 times more. Happy shopping

    --
    resurrect my .sig
  49. Re:Not just the books by Darby · · Score: 2, Funny

    I guess we British students should stop moaning so much.

    No, you've still got shithouse weather.

    And the bland, gray food.


    What are you talking about?
    Curry is neither gray nor bland.

  50. Re:Wrong set of regulations by rnd() · · Score: 2, Insightful

    Since I think copyrights are legitimate ways of protecting IP, I don't think that textbooks from China should be allowed to be sold here, unless of course all of the authorization has been obtained to print/reproduce the materials.

    The siutation with UK books doesn't bother me, though, b/c there is no governmental regulation in the picture and it's up to someone to ship the books, attempt to sell them, etc.

    For Pharmaceuticals, one must consider the following:

    The US is the bigggest market for new/costly drugs. Pharm companies formulate their strategic plans based on a certain amount of profitability. In order for a new drug to make sense (financially) the company has to consider the fact that only 5% of the drugs they research end up becoming useful pharmaceuticals, and that the FDA's regulatory process can take several years and costs a lot. Since a US patent can last for only 20 years, there are very specific circumstances that lead to the constant creation of new drugs, and gray market drug importation on a large scale would alter those circumstances such that fewer dollars would be invested in new and innovative drugs.

    From a purely economic standpoint, this should be allowed to happen, so that American consumers can accurately assess the role of the FDA in new pharm. development. The problem is, people only see what's there, and the promotional materials released by drug companies would spin any new drugs as the latest innovations, the underlying truth would be that due to the diminished profit potential less money was invested in research and less progress was made at creating pharmaceuticals to fight disease.

    I suppose my thought on the issue is that the Canadian government is effectively cheating by imposing a price ceiling, and all of us in the US are being charged for Canadians' pharmaceuticals. If it were up to Canada, there would be far less incentive for drug companies to create the new drugs that we all benefit from. Since Canada is a government, it could nationalize the formulas for key pharmaceuticals, and no inventors would ever be compensated for their work.

    If market forces are allowed to function, then gray market drugs would be illegal, and one by one all nations would impose price ceilings, and the gray market would adapt and drugs would be imported from wherever the ceiling was the lowest.

    The problem is that this is not a situation of true efficiencies, as in importing widgets from the place that can produce them most efficiently, this is a situation where governments are able to coerce pharm companies through price controls, and by preventing price signals to invite new inventors to the pharm. industry, they handicap its ability to meet consumer demand through new innovation.

    --

    Amazing magic tricks