Four companies dominate the higher education textbook market: Pearson, McGraw-Hill Education, Cengage, and Wiley. College textbooks can be an expensive addition to the cost of higher education. College textbook prices have increased at a rate of three times inflation since 1977. The current average cost of a college textbook is $175. In recent years, the introduction of online textbooks and opensource materials have disrupted this market and changed some of its characteristics. 1. Do you think the change has a benefit or hurt to society? What will be the effect of the continued expansion of foundations and governments funding opensource texts? How does this change benefit or hurt society?
Textbooks and the Internet
Four companies dominate the higher education textbook market: Pearson, McGraw-Hill Education, Cengage, and Wiley. College textbooks can be an expensive addition to the cost of higher education. College textbook prices have increased at a rate of three times inflation since 1977. The current average cost of a college textbook is $175. In recent years, the introduction of online textbooks and opensource materials have disrupted this market and changed some of its characteristics.
1. Do you think the change has a benefit or hurt to society? What will be the effect of the continued expansion of foundations and governments funding opensource texts? How does this change benefit or hurt society?
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