Privatising the profits, socialising the losses. It’s not just banks, that’s how the academic publishing industry shows such a profit too. Taxpayers pay for academic research. Academics do the work, pay page charges (often over £1000) to publish their results in journals, peer review other researchers’ submissions for nothing, edit publishers’ journals for the prestige only. Then the academics or any interested reader have to pay again to read the papers at perhaps £20 for 10 pages.
A very nice business model. But it’s changing. Some academics are signing up in opposition here. Open source journals exist that allow free access to all.
If the BMA had got its industrial action thought out properly, doctors and scientists would be boycotting the various accreditation inspections. No patients would be inconvenienced. Everyone could see that accreditation is of no benefit. Well, they’d see if they looked quite hard, but how many would look at all?