MIT leaders describe the experience of not renewing its largest journal contract as overwhelmingly positive. MIT has long tried to avoid vendor lock-in through big deal contracts and, in 2019, maintained individual title-by-title subscriptions to approximately 675 Elsevier titles. In 2020, they took the significant step of canceling the full Elsevier journals contract – all 675 titles – leaving users with immediate access to only pre-2020 backfile content. Since the cancellation, MIT Libraries estimates annual savings at more than 80% of its original spend. This move saves MIT approximately $2 million each year, and the Libraries provide alternative means of access that fulfills most article requests in minutes.
After laying the groundwork with faculty and university administrators, the transition has been relatively seamless with minimal push back from researchers. Most faculty have been supportive of the Libraries in taking a principled stand in line with MIT values and are finding alternative means of access to needed research without an Elsevier subscription. Four years out, the faculty who continue to be most challenged by lack of immediate access are in the life sciences.
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I always found the journal model to be one of the best scams there is. Buy our journal. Written by you. Edited by you. Referreed by you. Based on research paid for with public money. The journal contribution is to sell the paper back to the people who provide their content.
Plus you pay them to publish, not the other way around.
They charge for literally every step in the process, even the ones where in other systems you'd be the one charging them.
Anyone who reviews for Elsevier is part of the problem.
The reddit business model