Marginals and Elites in International Arbitration
This chapter highlights a field that has raised significant interest in recent years: the sociology of individuals who are routinely appointed as international arbitrators to settle the important business disputes that commonly arise in transnational settings. These individuals serve as the private judges of global business law, and their governance functions have grown together with the growth of international arbitration, which is now the preferred method for resolving these disputes. The private nature of these appointments and the creation of a closed group of elite arbitrators have raised important concerns within civil society. The chapter then shows how the elites of international commercial arbitration (ICA) have successfully gained a strong and growing foothold in the burgeoning field of investor–state arbitration (ISA), despite the structural differences between ICA and ISA. Indeed, the elites of ISA and ICA significantly overlap, and have developed similar social strategies to secure legitimacy within the unified field of international arbitration.