CLOSE
Original image
Vladimir Godnik/Beyond/Corbis

Why Are Textbooks So Expensive?

Original image
Vladimir Godnik/Beyond/Corbis

The beginning of a freshman’s college experience is an exciting time. Dining halls! No bedtime! Taunting your RA! Exorbitantly expensive textbooks!

Wait, that last one is no fun at all. It’s hard to make that first trip to the college bookstore for required texts without leaving with a bit of sticker shock. Why are textbooks so astonishingly expensive? Let’s take a look.

Publishers would explain that textbooks are really expensive to make. Dropping over a hundred bucks for a textbook seems like an outrage when you’re used to shelling out $10 or $25 for a novel, but textbooks aren’t made on the same budget. Those hundreds of glossy colorful pages, complete with charts, graphs, and illustrations, cost more than putting black words on regular old white paper. The National Association of College Stores has said that roughly 33 cents of every textbook dollar goes to this sort of production cost, with another 11.8 cents of every dollar going to author royalties. Making a textbook isn’t cheap.

There’s certainly some validity to this explanation. Yes, those charts and diagrams are expensive to produce, and the relatively small print runs of textbooks keep publishers from enjoying the kind of economies of scale they get on a bestselling popular novel. Any economist who has a pulse (and probably some who don’t) could poke holes in this argument pretty quickly, though.

In the simplest economic terms, the high price of textbooks is symptomatic of misaligned incentives, not exorbitant production costs. Students hold the reasonable stance that they’d like to spend as little money as possible on their books. Students don’t really have the latitude to pick which texts they need, though.

Professors pick the course materials, and faculty members don’t have any strong incentive to be price sensitive when it comes to selecting textbooks. Their out-of-pocket expense is zero whether the required texts cost $100 or $300, so there’s no real barrier to heaping on more reading material. If a student needs Class X to graduate, they’ll likely need to procure the required texts. This lack of cost-control incentives for professors is a major reason that at some point in college, everyone meets the expensive textbook’s even more maddening cousin, the Expensive Textbook You Never Even Use.

Moreover, many students aren’t all that price sensitive themselves. While the broke college kid is a beloved caricature, many students’ parents may still be footing the bill for school materials like books. Unless their parents raise a stink over a semester’s book bill, it’s easy to see how the textbook market could be one where none of the players actually have any strong incentive to be sensitive to prices.

Publishers also counter that widespread sales of used books cut into their bottom line. As eBay and Amazon have made the market for textbooks much bigger and more flexible, publishers lament that they’re losing out on sales, which necessitates higher retail prices for the new books they do sell.

Is there any truth to this argument? Maybe, but the effect may not be as great as the publishers claim. As economist Hal R. Varian wrote in The New York Times in 2005, it’s not totally clear that used textbooks are perfect substitutes for new ones. (Finding this piece absolved me of any residual guilt I may have had over selling Varian’s own excellent graduate microeconomics text on eBay last year.) As Varian puts it, used book sales probably cannibalizes less of the new book market than one might imagine.

Luckily for students, some external forces are placing downward pressure on textbook prices. Last year a new federal law went into effect that requires publishers to notify professors of textbook prices and schools to inform students of necessary course texts during registration. Online textbook rental companies could help replace outright ownership, as could electronic reserve programs. It may take a while, but in the future college students may be able to do the required reading without emptying their wallets.

Original image
iStock
arrow
Big Questions
Why Don't We Eat Turkey Tails?
Original image
iStock

Turkey sandwiches. Turkey soup. Roasted turkey. This year, Americans will consume roughly 245 million birds, with 46 million being prepared and presented on Thanksgiving. What we don’t eat will be repurposed into leftovers.

But there’s one part of the turkey that virtually no family will have on their table: the tail.

Despite our country’s obsession with fattening, dissecting, and searing turkeys, we almost inevitably pass up the fat-infused rear portion. According to Michael Carolan, professor of sociology and associate dean for research at the College for Liberal Arts at Colorado State University, that may have something to do with how Americans have traditionally perceived turkeys. Consumption was rare prior to World War II. When the birds were readily available, there was no demand for the tail because it had never been offered in the first place.

"Tails did and do not fit into what has become our culinary fascination with white meat," Carolan tells Mental Floss. "But also from a marketing [and] processor standpoint, if the consumer was just going to throw the tail away, or will not miss it if it was omitted, [suppliers] saw an opportunity to make additional money."

Indeed, the fact that Americans didn't have a taste for tail didn't prevent the poultry industry from moving on. Tails were being routed to Pacific Island consumers in the 1950s. Rich in protein and fat—a turkey tail is really a gland that produces oil used for grooming—suppliers were able to make use of the unwanted portion. And once consumers were exposed to it, they couldn't get enough.

“By 2007,” according to Carolan, “the average Samoan was consuming more than 44 pounds of turkey tails every year.” Perhaps not coincidentally, Samoans also have alarmingly high obesity rates of 75 percent. In an effort to stave off contributing factors, importing tails to the Islands was banned from 2007 until 2013, when it was argued that doing so violated World Trade Organization rules.

With tradition going hand-in-hand with commerce, poultry suppliers don’t really have a reason to try and change domestic consumer appetites for the tails. In preparing his research into the missing treat, Carolan says he had to search high and low before finally finding a source of tails at a Whole Foods that was about to discard them. "[You] can't expect the food to be accepted if people can't even find the piece!"

Unless the meat industry mounts a major campaign to shift American tastes, Thanksgiving will once again be filled with turkeys missing one of their juicier body parts.

Have you got a Big Question you'd like us to answer? If so, let us know by emailing us at bigquestions@mentalfloss.com.

Original image
iStock
arrow
Big Questions
Why Do We Dive With Sharks But Not Crocodiles?
Original image
iStock

Why do we dive with sharks but not crocodiles?

Eli Rosenberg:

The issue is the assumption that sharks' instincts are stronger and more basic.

There are a couple of reasons swimming with sharks is safer:

1. Most sharks do not like the way people taste. They expect their prey to taste a certain way, like fish/seal, and we do not taste like that. Sharks also do not like the sensation of eating people. Bigger sharks like great whites enjoy prey with a high fat-bone ratio like seals. Smaller sharks enjoy eating fish, which they can gobble in one bite. So, while they might bite us, they pretty quickly decide “That’s not for me” and swim away. There is only one shark that doesn’t really care about humans tasting icky: that shark is our good friend the tiger shark. He is one of the most dangerous species because of his nondiscriminatory taste (he’s called the garbage can of the sea)!

2. Sharks are not animals that enjoy a fight. Our big friend the great white enjoys ambushing seals. This sneak attack is why it sometimes mistakes people for seals or sea turtles. Sharks do not need to fight for food. The vast majority of sharks species are not territorial (some are, like the blacktip and bull). The ones that are territorial tend to be the more aggressive species that are more dangerous to dive with.

3. Sharks attacked about 81 people in 2016, according to the University of Florida. Only four were fatal. Most were surfers.

4. Meanwhile, this is the saltwater crocodile. The saltwater crocodile is not a big, fishy friend, like the shark. He is an opportunistic, aggressive, giant beast.


5. Crocodiles attack hundreds to thousands of people every single year. Depending on the species, one-third to one-half are fatal. You have a better chance of survival if you played Russian roulette.

6. The Death Roll. When a crocodile wants to kill something big, the crocodile grabs it and rolls. This drowns and disorients the victim (you). Here is a PG video of the death roll. (There is also a video on YouTube in which a man stuck his arm into an alligator’s mouth and he death rolled. You don’t want to see what happened.)

7. Remember how the shark doesn’t want to eat you or fight you? This primordial beast will eat you and enjoy it. There is a crocodile dubbed Gustave, who has allegedly killed around 300 people. (I personally believe 300 is a hyped number and the true number might be around 100, but yikes, that’s a lot). Gustave has reportedly killed people for funsies. He’s killed them and gone back to his business. So maybe they won’t even eat you.


8. Sharks are mostly predictable. Crocodiles are completely unpredictable.

9. Are you in the water or by the edge of the water? You are fair game to a crocodile.

10. Crocodiles have been known to hang out together. The friend group that murders together eats together. Basks of crocodiles have even murdered hippopotamuses, the murder river horse. Do you think you don't look like an appetizer?

11. Wow, look at this. This blacktip swims among the beautiful coral, surrounded by crystal clear waters and staggering biodiversity. I want to swim there!

Oh wow, such mud. I can’t say I feel the urge to take a dip. (Thanks to all who pointed this out!)

12. This is not swimming with the crocodiles. More like a 3D aquarium.

This post originally appeared on Quora. Click here to view.

SECTIONS

arrow
LIVE SMARTER
More from mental floss studios