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Tim Crane discusses another facet of the multimillion-dollar academic publication machine, explaining the financial burden that private academic publishers place on public institutions through a complex system that relies on free (or taxpayer-supported) labor to fund journal publications that live behind expensive paywalls. He concludes that “as things currently stand, it’s hard to deny that journal publishing appears little better than a scam. Who is making all this money? … The answer is depressingly predictable: corporations nested within other corporations, whose names are unmemorable acronyms and whose shareholders are (inter alia) private equity and venture capital firms.”
Read the article The Peer Review Industry: Implausible and Outrageous