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, hoping...

This book describes a century of tremendous legal change, of inspiring legal developments, and profound failures. The twentieth century took the United States from the Progressive Era's optimism about law and social engineering to current concerns about a hyperlegalistic society, from philosophical idealism to the implementation of democracy, the rule of law, and the idea of human rights throughout the world. At the same time, law maintained its status as the key language of governance in the United States, the most "legal" of all countries, which has succeeded in making its version of the...