I always thought arbitration was forcing weaker parties out of the fairer legal system. Now I wonder if that's a planted idea by the legal industry? It made sense to me that arbitration was paid for by the company, and there would be incentives for the judge to side with their long term meal ticket. But perhaps all that is wrong? I really wish you could elaborate on why it is better, I'm very interested in challenging my assumptions here.

Your reasoning makes sense, and I was concerned in a similar way when I filed my arbitration case (for about $8k) against the manufacturer of my leased car. The so called “Lemon law” in California suggests the arbitration as the first step. Surprisingly enough, I won the case, and it only took me about an hour of collecting documents and filling in the forms, and 45 minutes of the phone call.

Even though the car manufacturer does indeed pay for the arbitration, I never felt the arbiter is biased, and the judgement was completely in my favor.

Arbitration is secret. There's no way to determine if it's fair.