Is Peer Review a Good Alternative?

In economics, it's usually one way. The authors don't know who reviewed your paper, their paper, but the reviewer knows who wrote it. Is that true in psychology also? It's almost always true with some exception of blind peer review. I think those of us in the kitchen know that peer review is deeply imperfect and maybe better than an alternative. For me, the bigger problem is how the non academics consume peer reviewed research as if it's truth.