"New Scientist calls for the end of the scholarly publishing industry: "more profitable than oil," "indefensible"

New Scientist calls for the end of the scholarly publishing industry: "more profitable than oil," "indefensible"

 Boing Boing by Cory Doctorow  

In a stirring unsigned editorial, the New Scientist calls the scholarly publishing industry "indefensible," noting that the business of publishing tax-funded research and then selling it to tax-funded institutions has produced the most profitable industry in the world, where 40% margins dwarf those commanded by oil or finance.