Academic publishing is a uniquely troubling industry. Its profits are worth billions annually and its profit margins compare favourably with those of oil giants and tech juggernauts. Unlike these industries, however, its core workforce does not see a return on its earnings despite the marginal costs being few.
How is this possible? Academics work hard to produce research that is funded by taxpayers, charities and universities. This work is effectively donated for free to academic journals who pass it to other academics for peer review as unpaid volunteers. If the work is deemed up to scratch by these volunteers, the journal accepts the work and the university must sign the copyright over to publishers, who are free to place it online behind a paywall.
This prevents the public, who typically funded it, from ever seeing it – unless they want to pay up to several hundred pounds for a single PDF file. Adding insult to injury, the publishers then charge the very same institutions that donated the work millions of pounds for their libraries to access it.