The world through the editor eyes

I have a dream that one day I will set up a journal on finance and risks, as I had a dream of writing a blog, and it happened, so the journal will arrive… though I am not sure where it will bring me as an academic.

I wonder if in the open access world that awaits us, we authors will be able to publish articles without the need of journals. In the meantime, the tasks involved to manage a journal are not little thing:
• Management and editorial issues: indexations, manage the team, print publication logistics.
• Promote the journal, search subscribers.
• Search for editors, peer reviewers, copy editors, content and board members.
• Seek more funds: grants, sponsors.
• Maintain the web page, platform and processes.
• Review submissions if they fit the journal editorial line, quality, scope and readers.
• Send papers for peer review, follow reviewers, collect answers and share feedback.
• Communicate with authors.
• Control plagiarism and copyright guidelines.
• Etc.

But with our own journals, we will be ‘Free at last!’(M.Luther King, 1963):
• You and your department will earn prestige and visibility disseminating knowledge and helping others to publish.
• You will strengthen your academic network, finding board members, editors, reviewers and content.
• You will improve your curriculum, though I am not sure to what extent.
• You can make some cash for your department research and publications, but I am not sure how much.

And you, professor, have you ever had that dream? Will it make you a better academic? Do you see any advantages or disadvantages? Alone or with co-editors? Think about it as you prepare your draft paper and choose the journal where you wish to publish.