This Element surveys the field of defense, peace, and war economics with particular emphasis on the contributions made by Austrian economists. I first review treatments of defense, peace, and war by the classical economists. I then discuss the rise of a distinct and systematic defense, peace,...

Economists often model national defense as a pure public good optimally provided by a benevolent and omnipotent "defense brain" to maximize social welfare. I critically consider five assumptions associated with this view: (1) that defense and security is a pure public good that must be provided...