According to this article, academic journals are out of date and overpriced. "A better approach to academic publishing is to cut out the whole notion of publishing. We don't really need journals as traditionally conceived. The primary role of traditional journals is to provide peer review and for that you don't need a physical journal--you just need an editorial board and an editorial process." Sure, there's an expense - but it's hard to imagine it equalling the millions of dollars institutions pay to publishers every year.
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