At a time marked by geopolitical fragmentation, rising military expenditures, and increasingly securitized political discourse, questions of peace and stability are frequently reduced to matters of deterrence and military strength. For many policymakers, strengthening defense capabilities is seen as essential to protecting sovereignty and ensuring strategic autonomy. At the same time, it has long been understood that long-term stability also rests on arms control, risk reduction, demilitarization efforts, and sustained investment in the political, economic, and social foundations that address root causes of conflict and prevent it from re-emerging. This session will create space for a constructive debate between these perspectives. It will examine how different approaches to security interact in practice and what trade-offs they create. Ultimately, the session aims to identify areas of convergence and explore how policy choices today can shape both security and societal wellbeing in the years ahead.