Peer review is supposed to be the quality assurance system for science, weeding out the scientifically unreliable and reassuring readers of journals that they can trust what they are reading. In reality, however, it is ineffective, largely a lottery, anti-innovatory, slow, expensive, wasteful of scientific time, inefficient, easily abused, prone to bias, unable to detect fraud and irrelevant.
— Richard Smith, former editor of the BMJ