In recent years, international business disputes have increasingly
been resolved through private arbitration. The first book of its
kind, Dealing in Virtue details how an elite group of transnational
lawyers constructed an autonomous legal field that has given them a
central and powerful role in the global marketplace.
Building on Pierre Bourdieu's structural approach, the authors
show how an informal, settlement-oriented system became formalized
and litigious. Integral to this new legal field is the intense
personal competition among arbitrators to gain a reputation for
virtue -- including expertise in international arenas -- that will
lead to selection for arbitration panels. Since arbitration fees
have skyrocketed, this is a high-stakes game.
Using multiple examples, Dezalay and Garth explore how
international developments can transform domestic methods for
handling disputes and analyze the changing prospects for
international business dispute resolution given the growing
presence of such international market and regulatory institutions
such as the EEC, NAFTA, and the WTO.
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