Peer review – a charade?

quoting from an email this afternoon:

Only 8% members of the Scientific Research Society agreed that “peer review works well as it is.” (Chubin and Hackett, 1990; p.192).
“A recent U.S. Supreme Court decision and an analysis of the peer review system substantiate complaints about this fundamental aspect of scientific research.” (Horrobin, 2001).
Horrobin concludes that peer review “is a non-validated charade whose processes generate results little better than does chance.” (Horrobin, 2001). This has been statistically proven and reported by an increasing number of journal editors.
Since a growing number of studies conclude that peer review is flawed and ineffective as it is being implemented, why not apply scientific and engineering research and methods to the peer review process?
This is the purpose of the International Symposium on Peer Reviewing: ISPR ( being organized in the context of The 3rd International Conference on Knowledge Generation, Communication and Management: KGCM 2009 (, which will be held on July 10-13, 2009, in Orlando, Florida, USA.