Juliette Culver links to this article in which "Joshua Gans and George Shepherd write to Nobel prizewinners and other similiarly eminent economists and ask them about papers they had rejected." Needless to say, many of the classical works in the field were rejected by the process of peer review, and mnoreover, those major thinkers in the field who avoided rejection did so by avoiding publication in journals. My own belief is that the system of peer review prevents innovation and academic soundness, rather than recognizing and rewarding it.
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