University professors and students from around the country came together today to release a new report which finds that textbook publishers engage in a number of market practices that drive up the price of textbooks for students.
As a prominent publisher continues to issue "new" editions of textbooks that are not significantly "new", hundreds of college physics and mathematics professors issued a joint call to action. The call to action was sparked by the latest research from the Student PIRGs that found that new textbook revisions reduce the availability of used books, which are 45% cheaper than new books.
A new report by the United States Government Accountability Office (GAO) confirms previous research conducted by the Student Public Interest Research Groups (Student PIRGs) into textbook prices. The GAO report, requested by Congressman David Wu last year, found that textbook prices have risen at twice the rate of annual inflation over the last two decades, an average of 6 percent each year since 1987-1988, compared with overall price increases of 3 percent per year.
Making Washington the first state to act in 2007 on the growing problem of college textbook prices, Governor Christine Gregoire signed a landmark measure this morning that will help lower the cost of textbooks for Washington college students. The law requires textbook publishing companies to disclose prices and change-of-edition information when marketing course materials to faculty in the state of Washington.