Dealing in Virtue: International Commercial Arbitration and the Construction of a Transnational Legal Order

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In recent years, international business disputes have increasingly been resolved through private arbitration. This pathbreaking book reveals for the first time how an elite, transnational legal profession has emerged over the last three decades and engaged in the construction of an autonomous legal field that is central to the global marketplace. Building on the structural approach of Pierre Bourdieu, Yves Dezalay and Bryant G. Garth show how an informal, settlement-oriented system dominated by Continental ...
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Overview

In recent years, international business disputes have increasingly been resolved through private arbitration. This pathbreaking book reveals for the first time how an elite, transnational legal profession has emerged over the last three decades and engaged in the construction of an autonomous legal field that is central to the global marketplace. Building on the structural approach of Pierre Bourdieu, Yves Dezalay and Bryant G. Garth show how an informal, settlement-oriented system dominated by Continental academics became formalized, litigious, and expensive. They also reveal a more personal but integral aspect of this new legal field - the intense personal competition and fascinating hierarchies among arbitrators seeking the international reputations for virtue that will lead to selection for arbitration panels. Since arbitration fees in many cases reach hundreds of thousands of dollars, this, too, is very much a high-stakes game. With examples from England, the United States, Sweden, Egypt, Hong Kong, and many other countries, Dezalay and Garth explore how international developments in turn transform domestic methods for handling disputes. Finally, they analyze the changing prospects for international business dispute resolution given the growing presence of international market and regulatory institutions such as the EEC, NAFTA, and the World Trade Organization.
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Editorial Reviews

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A profile of an elite, transnational legal profession emerging over the last three decades and engaging in the construction of an autonomous legal field central to the global marketplace. The authors describe how an informal, settlement oriented system dominated by Continental academics has become formalized, litigious, and very, very expensive. Using examples from England, the US, Sweden, Egypt, and Hong Kong, Dezalay and Garth demonstrate how this new legal field is transforming domestic methods for handling disputes and affecting regulatory institutions such as the EEC, NAFTA, and the World Trade Organization. Annotation c. by Book News, Inc., Portland, Or.
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Product Details

  • ISBN-13: 9780226144221
  • Publisher: University of Chicago Press
  • Publication date: 8/28/1996
  • Series: Chicago Series in Law and Society
  • Edition description: 1
  • Pages: 354
  • Product dimensions: 6.20 (w) x 9.30 (h) x 1.00 (d)

Table of Contents

Foreword
Acknowledgments
Pt. 1 Dealing in Virtue 1
1 Exploring and Representing the World of International Commercial Arbitration 3
2 Becoming an Arbitrator: Building and Exchanging National and International Symbolic Capital 18
Pt. 2 Constructing Transnational Private Justice and Legalizing Business Conflicts 31
3 Merchants of Law as Moral Entrepreneurs: Constructing International Justice out of the Competition for Transnational Business Disputes 33
4 Setting the Legal Scene for North-South Conflicts and the Collective Construction of the Universality of Law 63
5 U.S. Litigators, Continental Academics, Petrodollar Construction Projects, and the Lex Mercatoria: A Case Study 100
Pt. 3 Internationalization and the Transformation of the Landscape for Handling Business Conflicts 115
6 Between the Worlds of Law and Business: The Contradictions of Business Justice and Its Permanent Reconstruction through Dispute Resolution Mechanisms 117
7 England: The Contradictions and Limits of an International and Reformist Strategy 129
8 In and Out of the Multidoor Courthouse: Internationalization and the Transformation of the Landscape of Business Disputing in the United States 151
9 Vintage Arbitration in Stockholm 182
10 Social Capital and Legal Capital: Competition and Complementarity in the Market for Business Justice 197
11 International Legal Practice as Ghetto or Beachhead: Cairo and the Problems of North and South 219
12 Law and the Frontier: Hong Kong and Transitions from One Imperialism to Another 250
13 How to Construct Neutrality and Autonomy on the Basis of a Strategy of Double Agent 281
14 Reintroducing Politics and States in the Market of International Business Disputing 311
Bibliography 319
Index 333
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