If I think that economics students should be given ratings like tournament chess players, then naturally I would like this suggestion from David Tufte
for evaluating academic research, maintaining quality, and speeding up the process. Send 2 papers to an anonymous referee. Have them pick the best one. Only! Pair the winner with the winner of some other pair. Repeat as needed. Notify the losing authors only of what round they lost in, and permit resubmissions.
For Discussion. Suppose that we substitute “blogger” for referee. Could we disintermediate the journals?