[ceras]

Princeton tried exactly this while I went there ("grade deflation"), and it didn't go well. They sent a letter to places like med school admissions alongside transcripts, but it wasn't enough. Ultimately, they abandoned the practice in 2014: employers, law schools, med schools often have minimum GPA requirements that are not school specific.

Students also didn't like it because they felt it made the environment more competitive and less collaborative than at other schools, because an A for your peer means one less A for you.

Somewhere else in this comment section someone mentioned how going to Princeton during grade deflation era stopped them from becoming a doctor, and I'd say that's accurate.