Here is a trivia question for you: what is the most profitable business in the world? You might think oil, or maybe banking. You would be wrong. The answer is academic publishing. Its profit margins are vast, reportedly in the region of 40 per cent. New Scientist: The reason it is so lucrative is because most of the costs of its content is picked up by taxpayers. Publicly funded researchers do the work, write it up and judge its merits. And yet the resulting intellectual property ends up in the hands of the publishers. To rub salt into the wound they then sell it via exorbitant subscriptions and paywalls, often paid for by taxpayers too.
The academic publishing business model is indefensible. Practically everybody — even the companies that profit from it — acknowledges that it has to change. And yet the status quo has proven extremely resilient. The latest attempt to break the mould is called Plan S, created by umbrella group cOAlition S. It demands that all publicly funded research be made freely available. When Plan S was unveiled in September, its backers expected support to snowball. But only a minority of Europe’s 43 research funding bodies have signed up, and hoped-for participation from the US has failed to materialise. Meanwhile, a grass-roots campaign against it is gathering momentum. Plan S deserves a chance.
of this story at Slashdot.
Source:: Slashdot