We define peace economics as the economic study and design of political, economic, and cultural institutions, their interrelations, and their policies to prevent, mitigate, or resolve any type of latent or actual destructive conflict within and between societies. Differentiating peace economics from defense/military economics, conflict economics, and security economics, we assert that while founded on positive precepts, peace economics is distinct for its normative character. We place peace economics within a larger framework of positive peace and social system sustainability and briefly discuss some challenges.
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