ECONOMIC THEORY OF CONFLICT

Conflict is ubiquitous and permanently recurring phenomenon of human. Most of these conflicts are economically induced, and have impeded science, technology and security of nation states. There are different explanations/approaches to understanding conflicts around the world. The reality is that these are explainable using scientific and non-scientific indices. This article x-rays the economic theory of conflict to explain the raison d?etre, triggers, catalysts, precipitators, scopes and enlightenments of why these conflicts occur. To mitigate the effects we recommend economic justice, formation of strong security outfits, mass patriotism education, protection of fundamental human rights and continuous infrastructural development of the societies that are prone to conflicts arising from economic indices.