Universities: Scholarly Madness

Nearly every major university today has its own academic press—a branch of publishing that seeks to bridge the gap between the world of scholarship and an increasingly educated public eager to find out what the scholars have to say. "We publish the smallest editions at the greatest cost," says Yale University Press Director Chester Kerr, "and on these we place the highest prices and try to market them to people who can least afford them. This is madness."

Madness it may be, but there is method to it. No longer just an outlet...