Comment Open Source Literature is the real paradigm shift (Score 2, Insightful) 154
Take note that the real goal of this initiative is not to overthrow the time-tested process of peer review. Rather PLoS supporters are vested in changing the publishing process - away from the pay-per-view mentality and towards an open source type of license for scientific literature, where FULL TEXT articles can be viewed and re-distributed.
Of course the marginal costs for publishing and peer review remain. The PLoS leaders propose shifting the cost burden from readers to authors - by charging a certain fee to publish an article. Their reasoning is that since government agencies such as the NIH already pay millions of dollars for journal subscriptions within research grants, those funds could be used to subsidize the author's fees instead.
In case this sounds like "selling out" quality for profit, consider that it's in a journal's best interests to achieve prominence through a high citation rate. So quality would be ensured by recruiting high-profile scientists on editorial boards. Some journals are starting to adopt this paradigm, most notably the Journal of Biology and Genome Biology
How would journals reap profits then? By charging subscriber fees for insightful commentaries and research reviews - but still allowing free access to the fruits of publicly-funded scientific research.
Can this new crop of open source journals rival the industry behemoths? Such revolutions have already rippled through the CS, physics, and math communtities, thanks to the strong support among authors. A $20 million investment, along with a firm commitment from biomedical researchers, sounds like the kick-start needed.