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One concern I have about electronic journals is their permanence. To create a traditional journal requires not only editors and authors, but also publishers. Most publishers have been established for a long time and probably enter into the creation of a new journal with a contract that requires some guarantee of longevity from the prospective editors. An electronic journal requires no publisher. Minimally, the journal requires a Web page or gopher site and a few hundred dollars per year (if that). The very ease with which the journal can be set up is an invitation to cease publication. Is a rapidly evolving list of electronic journal titles a virtue, or sign of publishing anarchy? Maybe the electronic medium requires something different than a traditional journal format. For example, specific disciplines might set up electronic clearinghouses for manuscripts, with a mechanism for inviting comment. Also, the electronic medium might be well suited for distributing reprints. Finally, the electronic medium is already proving itself as an excellent source of newsletters.
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