Arbitration keeps the court system less full. It has a purpose that everyone ignores. How about solving the underlying problem that brought about arbitration: courts being saddled by too many frivolous lawsuits?
Arbitration, when both parties agree to it, and both participate in choosing the arbitrator, is fine.
But contracts that require you to go though arbitration for any future disputes, and where you have zero choice of venue, are incompatible with due process.
>courts being saddled by too many frivolous lawsuits
Citation Needed.
This has been the argument for many deregulators since the 70's which has resulted in the current culture of Employees being treated as disposable cattle in the US but I have yet to see any strong evidence of it's necesity.