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The True Lex Mercatoria: Law Beyond The State, Ralf Michaels

Indiana Journal of Global Legal Studies

Is there an anational lexr meratoria, a "global law without a state?" The debate seems infinite. Some argue that the rules, institutions, and procedures of international arbitration have now achieved a sufficient degree both of autonomy from the state and of legal character that they represent such an anational law. Others respond that whatever law merchant may exist is really state law-dependent on national norms and the freedom of contract they provide, and on the enforceability of arbitral awards by national courts. This paper suggests that the dichotomy of anational law and state law is false. Although an anational law …