Via Boing Boing, a new study finds that for-pay scholarly journals contribute virtually nothing to the papers they publish.

[T]his is an important result that has not received the attention it deserves. It provides hard evidence of something that many have long felt: that academic publishers add almost nothing during the process of disseminating research in their high-profile products. The implications are that libraries should not be paying for expensive subscriptions to academic journals, but simply providing access to the equivalent preprints, which offer almost identical texts free of charge, and that researchers should concentrate on preprints, and forget about journals. Of course, that means that academic institutions must do the same when it comes to evaluating the publications of scholars applying for posts.