By Thomas Carbonneau, 113 Penn St. L. Rev. 1343.
The contemporary law of arbitration originated in North America and Europe. Among like-minded States with conflicting legal traditions, arbitration represented a means of transcending the diversity of legal systems. It had the additional advantages of neutrality and enforceability. Arbitration’s regional success and the globalization of national economies eventually gave it a wider, more universal vocation. A world law of arbitration emerged and developed. Not only was it global in application, but its content was modern and sophisticated. States, admittedly to varying degrees, had come to the realization that their participation and that of their nationals in the world marketplace should only be undertaken with the adjudicatory guarantees of arbitration . . . [ keep reading]