https://www.theguardian.com/science/2017/jun/27/profitable-business-scientific-publishing-bad-for-science

The way to make money from a scientific article looks very similar, except that scientific publishers manage to duck most of the actual costs. Scientists create work under their own direction – funded largely by governments – and give it to publishers for free; the publisher pays scientific editors who judge whether the work is worth publishing and check its grammar, but the bulk of the editorial burden – checking the scientific validity and evaluating the experiments, a process known as peer review – is done by working scientists on a volunteer basis. The publishers then sell the product back to government-funded institutional and university libraries, to be read by scientists – who, in a collective sense, created the product in the first place.

Over the next year, however, most libraries backed down and committed to Elsevier’s contracts, and governments largely failed to push an alternative model for disseminating research. In 2012 and 2013, Elsevier posted profit margins of more than 40%. The following year, Aspesi reversed his recommendation to sell. “He listened to us too closely, and he got a bit burned,” David Prosser, the head of Research Libraries UK, and a prominent voice for reforming the publishing industry, told me recently. Elsevier was here to stay.

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