My understanding is that, despite the advent of electronic publishing era, in which publication costs would be expected to decline, they continue to sky-rocket. While I have no problem with providing direct financial incentives to reviewers for their work, one could argue that part of many of our salaries is based upon a bit of service to our profession. What about publishers offering incentives of deep discounts to the reviewers' libraries for their journals. This cost-cutting measure would immediately be noticed by the administrations of most of our colleges and universities. Are there any university librarians out there that could comment on this idea?
btw, Dr. Bloom has missed one important reason for the extensive journal (and grant) reviewiewing in which many of us take part -- it forces us to keep up with the literature.