The great illusion

In 'The Great Illusion,' Norman Angell argues that the economic costs of war are so high that no nation can hope to gain from it.

He contends that modern economic systems, based on trade and contract law, make war futile because conquest does not lead to economic benefits.

The book refutes the common belief that military power results in greater wealth and instead posits that advanced economies can only generate value in the absence of military conflicts.

Angell also discusses the psychological and moral aspects of war, emphasizing that the nature of modern capitalism makes nationalist sentiment among capitalists irrelevant.

Despite its publication just before World War I, which seemed to contradict his thesis, the book remains a significant work in the field of international relations and peace studies.