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, and war economics field of study starting in the 1960s. Next, I …

exist with a positive war frequency. Third, if multiple equilibria exist, the perpetual peace equilibrium with positive war … international conflict. In this paper, we investigate whether this motive is sufficiently important for war to persist in … equilibrium if all countries are democracies. Three key findings emerge. First, the perpetual peace equilibrium hypothesized by …

capability of private networks of commanders, suppliers, merchants and financiers who managed the conduct of war on land and at …