Being
raised in an environment where high morals were expected in almost all
circumstances, I was often expected to not act opportunistically. For the most
part, this was expected from most people in the town I grew up in, so I didn’t
really know anything different until later on in life. I believe this could be
the result of a high concentration of Christian upbringings in the area. I was
certainty aware of taking advantage of certain opportunities in order to better
one’s self, but I didn’t have much experience with people exploiting this at
the cost of others well being. My first year here at the University of Illinois
proved as an eye opening experience being surrounded by people from all walks
of life that might not share the same “good citizen” upbringing. No extreme
examples come to mind, but it was apparent that this environment was much more
cutthroat than what I was used to. There was defiantly a bit of a transition
phase, but I will look at this as a crucial learning experience for this is how
the majority of the world actually works. I have also learned that in most
cases, success is created through realizing opportunities and taking advantage
of them. These lessons will hopefully benefit me after I graduate while working
for an organization in the real world.
An
example that comes to mind of a time I didn’t act opportunistically is when I
let a friend of mine borrow two books for an entire semester. One of these
books was a Stewart calculus book that I had previously purchased new for
around $200 and the other was a macroeconomics book I had purchased used for
$80. With the high price of new textbooks in campus bookstores, a strong market
for used textbooks has been created. Renting these books online even cost a
significant amount. These two books offered no current use to me, but still
held a lot of monetary value. I could have easily sold them on a used textbook
website or Facebook student exchange page for a decent profit. I heavily
considered this for the calculus book, as I wasn’t very happy with my
performance in that class the previous semester and wanted nothing more than to
get the book out of my face so that I could move on from the class. At the
time, similar books were being sold for around $100 online.
Moving
on to the start of the next semester, I became aware that a friend of mine
would be taking the same calculus and macroeconomics class that the two books
could be used for. He approached me and asked me if I by chance I still had the
books from the previous semester and that if I did, he said that he would like
to buy them off of me. Having quickly forgotten about the previous semesters
books in a hustle to move out of my room at the end of the previous semester, I
wasn’t even sure if I still had the books. Fortunately, I had thrown them in
the trunk of my car where they were still sitting with a variety of other
objects I had given up on. Knowing the price of both of these books new, my
friend offered to pay me $120 total for both of the books. Thinking back to
this now, this money could have been very helpful to pay for the following
semesters books. However, in the midst of our transaction, I simply told him I
wasn’t going to accept his money, but rather would accept a beer or two the
next time we were both out at a local bar.
Thinking
back to this now, if not to buy other books, that money could have been useful
for a lot of things. However, I remember at the time that I felt didn’t feel
right taking $120 for the books. I realize that although they didn’t offer much
use to me at the time, that they still held monetary value. Having to guess
what made me deny the money, I would have to say that I believe it was due to
the way I was raised. There had to have been some sort of similar transaction
that I was apart of or witnessed at a young age that had a similar “Pay it forward”
approach. Thinking back to the transaction, I remember being enticed by the opportunity
to sell my books, however as our conversation progressed, I quickly decided I
wasn’t going to accept the money.
As charming as this story is, I wonder if selling the books at the $120 should be taken as the opportunistic norm, from which you refrained. Do you have any idea what the market price would have been had you sold them to somebody you didn't know? I would interpret your story as giving a gift to a friend. That is a nice thing to do, if you can afford it. But I wouldn't think it in any way morally wrong had you asked for payment for the books.
ReplyDeleteIncidentally, in days of your when I went to college we kept our textbooks as reference. I still have a few math textbooks from my undergrad days and a bunch of Econ texts from grad school. I wonder if kids still do that now or not. There was no Internet then so having the ready reference did provide some value. It's unclear to me whether that would still be true now.
If I remember correctly at the time the Calculus book was going for around $100 used and the econ book I had previously purchased used for $80.
ReplyDeleteI remember hearing from family members that they still have most of their books from school. Personally, I have some of mine, but have sold or loaned out a majority of them. It makes sense that people would want to keep them in order to draw reference. Were textbooks as expensive during your time in school? I wander if the high price of books combined with a strong used market have caused students to be inclined to sell their books once they are done with them.
William,
ReplyDeleteI am glad you have had such a great college experience so far as compared to your hometown; always good to grow and mature as a person. However, I slightly agree with professor Arvan that it seems like you gifted these books to a friend... a great gift for that person. What I am thinking is maybe you missed out on the opportunity to gift the books to your friend because you are close with them and do not need/ want their money but then after get them back and sell them. Even though the books were used I bet you still could have sold them for decent margin a year later as I assume a lot of students would love to buy the calculus/ ECON 101 books used rather than the ultra expensive real versions.
William,
ReplyDeleteI do have to agree with Professor Arvan's views on your post that the books seem to have been given as a gift. I think this because your friend knows that these books have monetary value to them and by no means are textbooks inexpensive. Thus, they would have had to known that if you were to ask for money for them it would not have been greedy but just something that is reasonable to ask for. Nonetheless, a gentleman's move on your part. I understand where you think you can have been unopportunistic but I see this scenario as more of a friendly gesture.