Excerpts from the Harvard Catalogue for 1874-75 amongst principal texts.... Incidentally, ane finds that annual fees for a sum course of report charge at Harvard ran $120/year too a re-create of John Stuart Mill’s Principles cost $2.50. Cf. today’s Amazon.com cost for N. Gregory Mankiw’s Economics which is $284.16. If tuition relative to the cost of textbooks had remained unchanged (and the character modify of the Mankiw textbook relative to Mill’s textbook(!) were equal to the character modify of the Harvard undergraduate education today compared to that of 1874-75(!!)), Harvard tuition would exclusively move well-nigh $13,600/year today instead of $45,278.
In other words, over the by 140 years, textbook prices accept risen exclusively 114-fold, whereas Harvard tuition has risen 377-fold.
Over this period, the CPI has risen 22-fold. So the existent cost of textbooks has increased well-nigh 5-fold, or a chip to a greater extent than than 1 per centum per year.
Sumber http://gregmankiw.blogspot.com/
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