Gregory Mankiw.JPG. Gregory Mankiw, author of the popular "Principles of Economics," appears before the U.S. Congress Joint Economic Committee in 2004, when he was chairman of the Council of Economic Advisers.
College students and professors complain about the textbook's $280 price tag, but the Harvard University economist maintains he earns his royalties.
The book, in its seventh edition with a million copies sold, was written by Gregory Mankiw.
The Harvard University economics-department chairman advised presidential candidate Mitt Romney and headed the Council of Economic Advisers under President George W. Bush.
Mankiw's royalties on this book alone may exceed $42 million, supplemented by revenues from several other textbooks.
Dense serves on an Oregon committee finding ways to curb course-material costs, given that college textbook prices climbed by 812 percent from 1978 to 2012.
The PSU instructor said Mankiw commands a "textbook empire," churning out multiple books and editions on macroeconomics and microeconomics. »