The economic case for open access in academic publishing | Ars Technica

"As hyperbolic as it may sound, academic publishing is the curator and guardian of the accumulated scientific knowledge of the human race, 1600 to present. It is also a cornerstone of modern science, preferentially selecting well-executed research through the peer review process. However, academic libraries are facing decreasing budgets, and even highly ranked universities are having to cut back on journal subscriptions. Since these subscriptions account for up to 75 percent of publishers' revenues, the entire system is feeling the pressure of the economic crisis."