Salini v. Morocco sparked one of the liveliest controversies in the dynamic field of international investment disputes. Salini held that the word investment in the ICSID Convention, although undefined, has an objective meaning that limits the ability of member states to submit disputes to ICSID...

The ancient Sumerians, Persians, Egyptians, Greeks, and Romans all had a tradition of arbitration. Arbitration “took its rise in the very infancy of Society” as a private and self-contained method, distinctive from litigation and not as a postscript to development of public courts. The...