Originally from Revolution in the International Rule of Law: Essays in Honor of Don Wallace, Jr.

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When you are studying any matter, or

considering any philosophy, ask yourself
only: What are the facts, and what is the truth
that the facts bear out. Never let yourself be
diverted, either by what you wish to believe,
or what you think could have beneficent
social effects if it were believed; but look only
and solely at what are the facts.
--Bertrand Russell

Borzu Sabahi: I have known Prof. Wallace for more than ten years
now. He has been a mentor, teacher, SJD supervisor, co-lecturer, cocounselor,
and friend to me. Prof. Wallace has over half a century of
experience at the forefront of many legal developments, and hence, many
intellectual interests. To give an overview of his contributions, nothing
short of this volume would have been adequate. This paper, however, is
just one small piece of the puzzle and on an aspect of a topic--damages
in investor state arbitration--he and I spent a substantial amount of time
exploring during my doctoral studies under his supervision. In the last
decade, I have mainly worked with him on this and related matters in a
variety of capacities (starting from a research assistant and growing later
into a co-professor and co-counselor). I first met him in a Georgetown
Law School LL.M. seminar about infrastructure projects in transition and
developing countries. At the time, that was the only seminar where three