The Nature of Peace contains both a theory of politics and a theory of economics in regard to war. Thorstein Veblen's approach to this topic is at once empirical, instrumental, and matter-of-fact. He poses the question, "What are the terms on which peace at large may hopefully be installed and maintained?" Veblen's quest for peace does not rely on grand forces but rather on various conditions, some propitious and some prohibitive.

The regime of peace, according to Veblen, is a function of the pacification of both the dynastic state and the modern state, the class struggle, the control of government by privileged business and other propertied interests, and the workings of the market. War and warlike behavior are matters not only of psychology but of both politics and economics, that is to say, matters of the social system as a whole.

Thorstein Veblen's brilliant analysis about the pursuit of perpetual peace is necessary reading material for sociologists, philosophers, political scientists, economists, military specialists, and government officials.