Queens University Law Professor Joshua Karton wrote a book entitled The Culture of International Arbitration and The Evolution of Contract Law. His recent paper International Arbitration Culture and Global Governance includes these interesting points:
"For International Commercial Arbitration to constitute global governance, as opposed to merely disconnected resolutions of individual cross-border disputes according to national laws, there are at least two prerequisites. First, legal rules must be formulated at the global level and apply regardless of the nationality and public or private status of the parties. Second, there must be a functional consistency in arbitral decision-making; a consistent adjudicative approach, such that 'like cases are treated alike,' is a hallmark of the rule of law. In the radically decentralized ICA system, where there is no central administrative body, no appellate hierarchy, and no common sets of procedural or substantive rules, consistency appears to be a tall order. Can there be global governance without a global governor?"