Disclaimer: I am not (yet!) published in any peer reviewed journals.
A companion recently posed an interesting proposal to improve the academic journal model: have referees publish their reviews after X period of time. I am sympathetic to the idea as I have always found secrecy to be a strange thing in decision making. What’s the point of ‘blind’ reviews anyway? From conversing with those with more experience in the field, it is rarely a ‘double blind’ process but a de facto one way ‘blind’ process. This seems to be the case more so outside the major journals.
My counter is: why not just get rid of journals altogether? Why not just publish via SSRN and similar websites? Journals seem to have maintained their existence in the digital age as a means of quality insurance, but there’s still lots of junk in the top journals. Surely we can come up with better ways than relying on a few referees? Even relying on citation count would be a better measure of a paper’s value I think.