Should Peer Review be reviewed?

Professor Bob Carter, writing for The Financial Post queries peer review.

Money corrupts peer-review process

The head of the Intergovernmental Panel on Climate Change (IPCC) has referred to its work as the gold standard, based on its oft-made claim that it only surveys work published in peer-reviewed professional research papers.
Interestingly, Albert Einstein’s famous 1905 paper on relativity was not peer-reviewed. It is therefore quite clear that peer-review is not a precondition for excellent, indeed epoch-making, scientific research.
Bob then goes on to describe the peer review process.
In essence, then, peer-review is a technique of editorial quality control. That a scientific paper has been peer-reviewed is absolutely no guarantee that the science it portrays is correct. Indeed, it is the very nature of scientific research that nearly all scientific papers require later emendation, or reinterpretation, in the light of new discoveries or understanding.
Scientific knowledge, then, is always in a state of flux. Much though bureaucrats and politicians may dislike the thought, there is simply no such thing as “settled science,” peer-reviewed or otherwise.
Bob says that western governments started putting large sums of money into science especially "global-warming research."

Many scientific journals, including prestigious internationally acclaimed ones, have now become captured by insider groups of leading researchers in particular fields. Researchers who act as editors of journals then select referees from within a closed circle of scientists who work in the same field and share similar views.
The Climategate email leak in 2009 revealed for all to see that this cancerous process is at an advanced stage of development in climate science. A worldwide network of leading climate researchers were revealed to be actively influencing editors and referees to approve for publication only research that supported the IPCC’s alarmist view of global warming, and to prevent the publication of alternative or opposing views.
Read More at Financial Post.

h/t Tom Harris