Why Are Textbooks So Expensive?

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Wavebreakmedia/iStock via Getty Images

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.

Where Did the Term Brownie Points Come From?

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bhofack2/iStock via Getty Images

In a Los Angeles Times column published on March 15, 1951, writer Marvin Miles observed a peculiar phrase spreading throughout his circle of friends and the social scene at large. While standing in an elevator, he overheard the man next to him lamenting “lost brownie points.” Later, in a bar, a friend of Miles's who had stayed out too late said he would never “catch up” on his brownie points.

Miles was perplexed. “What esoteric cult was this that immersed men in pixie mathematics?” he wrote. It was, his colleagues explained, a way of keeping “score” with their spouses, of tallying the goodwill they had accrued with the “little woman.”

Over the decades, the phrase brownie points has become synonymous with currying favor, often with authority figures such as teachers or employers. So where exactly did the term come from, and what happens when you “earn” them?

The most pervasive explanation is that the phrase originated with the Brownies, a subsect of the Girl Scouts who were encouraged to perform good deeds in their communities. The Brownies were often too young to be official Girl Scouts and were sometimes the siblings of older members. Originally called Rosebuds in the UK, they were renamed Brownies when the first troops were being organized in 1916. Sir Robert Baden-Powell, who had formed the Boy Scouts and was asked to name this new Girl Scout division, dubbed them Brownies after the magical creatures of Scottish folklore that materialized to selflessly help with household chores.

But the Brownies are not the only potential source. In the 1930s, kids who signed up to deliver magazines like The Saturday Evening Post and Ladies' Home Journal from Curtis Publishing were eligible for vouchers labeled greenies and brownies that they could redeem for merchandise. They were not explicitly dubbed brownie points, but it’s not hard to imagine kids applying a points system to the brownies they earned.

The term could also have been the result of wartime rationing in the 1940s, where red and brown ration points could be redeemed for meats.

The phrase didn’t really seem to pick up steam until Miles's column was published. In this context, the married men speaking to Miles believed brownie points could be collected by husbands who remembered birthdays and anniversaries, stopped to pick up the dry cleaning, mailed letters, and didn’t spend long nights in pubs speaking to newspaper columnists. The goal, these husbands explained, was never to get ahead; they merely wanted to be considered somewhat respectable in the eyes of their wives.

Later, possibly as a result of its usage in print, grade school students took the phrase to mean an unnecessary devotion to teachers in order to win them over. At a family and faculty meeting at Leon High in Tallahassee, Florida, in 1956, earning brownie points was said to be a serious problem. Also called apple polishing, it prompted other students in class to shame their peers for being friendly to teachers. As a result, some were “reluctant to be civil” for fear they would be harassed for sucking up.

In the decades since that time, the idiom has become attached to any act where goodwill can be expected in return, particularly if it’s from someone in a position to reward the act with good grades or a promotion. As for Miles: the columnist declared his understanding of brownie points came only after a long night of investigation. Arriving home late, he said, rendered him “pointless.”

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Grocery Stores vs. Supermarkets: What’s the Difference?

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gpointstudio/iStock via Getty Images

These days, people across the country are constantly engaging in regional term debates like soda versus pop and fireflies versus lightning bugs. Since these inconsistencies are so common, you might have thought the only difference between a grocery store and a supermarket was whether the person who mentioned one was from Ohio or Texas. In reality, there are distinctions between the stores themselves.

To start, grocery stores have been around for much longer than supermarkets. Back when every town had a bakery, a butcher shop, a greengrocery, and more, the grocery store offered townspeople an efficient shopping experience with myriad food products in one place. John Stranger, vice president group supervisor of the food-related creative agency EvansHardy+Young, explained to Reader’s Digest that the grocer would usually collect the goods for the patron, too. This process might sound familiar if you’ve watched old films or television shows, in which characters often just hand over their shopping lists to the person behind the counter. While our grocery store runs may not be quite so personal today, the contents of grocery stores remain relatively similar: Food, drinks, and some household products.

Supermarkets, on the other hand, have taken the idea of a one-stop shop to another level, carrying a much more expansive array of foodstuffs as well as home goods, clothing, baby products, and even appliances. This is where it gets a little tricky—because supermarkets carry many of the same products as superstores, the next biggest fish in the food store chain, which are also sometimes referred to as hypermarkets.

According to The Houston Chronicle, supermarkets and superstores both order inventory in bulk and usually belong to large chains, whereas grocery stores order products on an as-needed basis and are often independently owned. Superstores, however, are significantly larger than either grocery stores or supermarkets, and they typically look more like warehouses. It’s not an exact science, and some people might have conflicting opinions about how to categorize specific stores. For example, Walmart has a line of Walmart Neighborhood Markets, which its website describes as “smaller-footprint option[s] for communities in need of a pharmacy, affordable groceries, and merchandise.” They’re not independently owned, but they do sound like grocery stores, especially compared to Walmart’s everything-under-the-sun superstore model.

Knowing the correct store terms might not always matter in casual conversation, but it could affect your credit card rewards earnings. American Express, for example, offers additional rewards on supermarket purchases, and it has a specific list of stores that qualify as supermarkets, including Gristedes, Shoprite, Stop & Shop, and Whole Foods. Target and Walmart, on the other hand, are both considered superstores, so you won’t earn bonuses on those purchases.

And, since grocery shopping at any type of store can sometimes seem like a competitive sport, here’s the ideal time to go.

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