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The problem is that the market has been compromised such that fair price discovery isn't happening. Interesting you bring up DeBeers. I suppose you assert that
by bluedanieru 14y ago
The problem is that the market has been compromised such that fair price discovery isn't happening.
Interesting you bring up DeBeers. I suppose you assert that the global diamond market is healthy as well?
- maeon3 14y agoTextbooks and Diamonds are in the same boat. Free Market supply and demand has been subverted in favour of entities controlling the entire market and setting the prices where the consumers are powerless to punish waste and corruption by selecting an alternative book. A solution would be to make sure that Colleges have to pay for half of the price of student books, and put it into Tuition. That way when students see the inflated tuition prices (due to lots of $300 books), they go with the other college that has book prices that are reasonable. It's a nifty switcheroo to charge students tuition, then say "you are responsible for buying the books, and by the way you don't have a choice in the books."