Johnny Bravo doesn’t have it right. A monopoly is a market-dominating position held by one company or more than one company acting illegally in collusion. The textbook industry is no different from any other—every publisher is angling to take a slice of the other guys’ pie while still looking out for its own bottom line. There’s no stopping some young textbook company from entering the market and lowballing every other company out of existence—except it turns out that to produce the kinds of books your customers (profs) actually want, you’ve got to spend money to do it. It’s not like making cheap textbooks simply hasn’t occurred to anyone, or that the publishing industry just likes to fuck struggling students like you for the fun of it.
Did Stephen King have to have his latest novel fact-checked, and proofread by a fellow professional to make sure the problems all solve correctly or that the answers to the discussion questions are right? Did he have to hire half a dozen or so teachers to create test banks, study guides, PowerPoint slides, videos, and extra problems and examples? (You may not give a rat’s ass about any of that stuff, but odds are your prof certainly does—it’s a big part of the reason why he chose the book. And if the ancillaries help him to offer a better course, you benefit too.) Did he have to license rights-protected photography and artwork to make attractive and pedagogically sound exhibits? Did the interior of his book have to be designed with great precision to ensure that text, illustrations, and problems all work together harmoniously?
If y’all haven’t caught on by now, I work for a textbook publisher. I promise you: nobody is out to screw anybody. Publishers would love to be able to produce great books and ancillaries by first-tier talent and not have to charge an arm and a leg. The market conditions that would allow it simply are not there.
As for regulating the industry, that may well happen soon. If it does, I imagine the results would go something like this:
• Talented teachers would have less incentive to write textbooks because there would necessarily be a limit on the royalty payments they could earn. (Yes, textbook authors earn royalties, just like Stephen King.)
• Ancillaries and teaching aids would be cut drastically, forcing instructors to spend more time prepping for lectures or creating assignments and reducing the time available to work with students or bring extra creativity to the course.
• Textbook development time would decrease, resulting in more errors getting into print and more cookie-cutter designs and pedagogy.
• Student supplements, particularly things like websites and CD-ROMs, would be cut back or phased out all together, since they can only be produced economically by spreading the cost to every new book sold. A textbook review CD-ROM produced as a standalone point-of-sale product cannot sell enough units to make its production economically feasible.
The upshot is that textbooks would gradually get worse, and the used book industry would still be there, undercutting the publishers and forcing their prices even lower as they cannibalize more sales.
You want textbook prices to go down? Here is what you do. Take your case to your teachers. You may be the ones who buy the books in the end, but they’re really being created and marketed to appeal to the professor, not to you. (This isn’t that simple, of course; if a prof picks a book that students like, students will have an easier time in the course and the prof will have added incentive to stick with the book.) Your teachers are the ones who want test banks, PowerPoints and all that stuff. I don’t exactly know how you go about persuading them to do without, but that’s the crux of it: publishers are simply providing what their customers want, at the best price they can manage without going out of business.