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mogui, we have all that with the internet now, but I actually like having editors on whom I can rely to sanity-check an author's writing, and to select and present works that have a more consistent style and level of quality. The internet slush pile is huge and I don't have the time or inclination to wade through all of it.
But I don't think the good editors are getting rich, either. I suspect there's a bunch of overhead that could be excised from the process with no loss to the reader (or the writer), but that would take a complete overhaul of the publishing system.
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