nternational lawyers and political economists look at exits from armed conflict from different perspectives. From a legal perspective, the role of law has been to provide a framework to regulate the use of force and to articulate a common vision of the pathways towards constitutional democracies. In the post-Cold War period, the UN and other international actors hoped to end armed conflict through peace agreements, peacekeeping, statebuilding and peacebuilding – summarised as creating a ‘liberal peace’. But armed conflicts have become internal and complex – and there has been widespread recognition that the ‘liberal peace’ has not, and cannot, deliver. From a political economy perspective, the process of forming political settlements gives some explanation: law is less relevant than the reordering of partisan interests of power holders. This questions the viability of attempts to build a ‘liberal peace’. The insights of political economy are thus a reality check to inform the search for viable alternatives to prevent or exit violent conflict.