You don't throw the baby out with the bath water. That certain journals aren't doing peer review correctly, or that there is politics in the academia isn't a reason to not have peer review at all. And it does seem to work for some (PLoS One, for example). A flawed peer review system to validate knowledge is still better than a propaganda system driven for short term corporate gain.
Also - most academic scientific research depends on government spending. That's the whole point of academia, no? To work on problems companies don't want to fund because of no clear short-term impact on the bottom line. Not everyone is a Bell Labs or Google.