"In place of a closed, privileged and costly system, it will help open up the world of learning to everyone who wants to learn," said Robert Darnton, director of the university library. "It will be a first step toward freeing scholarship from the stranglehold of commercial publishers by making it freely available on our own university repository."
There is more to the proposal, so read the article and arguments against as well as for. But hopefully, the proposal will be adopted by other faculties as well.