Why do wars begin even when they leave both sides worse off? The Anatomy of War examines the warning signs before conflict, the forces that allow war to sustain and transform itself, and the conditions under which wars finally end.

The US–Israel–Iran conflict has entered a dangerous pause. Direct strikes have slowed, but the strategic contest continues through the Strait of Hormuz, maritime pressure, sanctions, Lebanon, and the wider role of Russia and China. This TSB analysis examines three possible paths ahead: a negotiated settlement, a frozen conflict, or a renewed phase of active operations.