Commentary 
The war in Ukraine has generated commentary from a wide variety of observers in many fields. But economic science is the only field that can provide lasting solutions. And economics delivers the same time-honored solution: the free-market economy is the only way to durable peace between Russia and Ukraine.
The immediate goal is to defuse the crisis. Any immediate steps, however, must be consistent with the ultimate goal of a genuine free-market economy for Russia and Ukraine. Three immediate steps are required to defuse the crisis: The U.S. government must remove all sanctions against Russia.
The Russian government must remove all military forces from Ukraine.
The Ukrainian government must guarantee that it will never join the North Atlantic Treaty Organization (NATO). So, who should take the first step? All three governments should be racing to take the first step toward peace. It is a grave mistake to think that the first mover will lose the conflict in Ukraine. Rather, as detailed below, each government has great incentives to move first toward peace.
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