Peer review is usually quite a good way to identify valid science. Of course, a referee will occasionally fail to appreciate a truly visionary or revolutionary idea, but by and large, peer review works pretty well so long as scientific validity is the only issue at stake. However, it is not at all suited to arbitrate an intense competition for research funds or for editorial space in prestigious journals. There are many reasons for this, not the least being the fact that the referees have an obvious conflict of interest, since they are themselves competitors for the same resources. This point seems to be another one of those relativistic anomalies, obvious to any outside observer, but invisible to those of us who are falling into the black hole. It would take impossibly high ethical standards for referees to avoid taking advantage of their privileged anonymity to advance their own interests, but as time goes on, more and more referees have their ethical standards eroded as a consequence of having themselves been victimized by unfair reviews when they were authors. Peer review is thus one among many examples of practices that were well suited to the time of exponential expansion, but will become increasingly dysfunctional in the difficult future we face.
Peer review is usually quite a good way to identify valid science. Of course, a referee will occasionally fail to appreciate a truly visionary or revolutionary idea, but by and large, peer review works pretty well so long as scientific validity is the only issue at stake. However, it is not at all suited to arbitrate an intense competition for research funds or for editorial space in prestigious journals. There are many reasons for this, not the least being the fact that the referees have an obvious conflict of interest, since they are themselves competitors for the same resources. This point seems to be another one of those relativistic anomalies, obvious to any outside observer, but invisible to those of us who are falling into the black hole. It would take impossibly high ethical standards for referees to avoid taking advantage of their privileged anonymity to advance their own interests, but as time goes on, more and more referees have their ethical standards eroded as a consequence of having themselves been victimized by unfair reviews when they were authors. Peer review is thus one among many examples of practices that were well suited to the time of exponential expansion, but will become increasingly dysfunctional in the difficult future we face.
[1] http://www.its.caltech.edu/~dg/crunch_art.html