The overall record of peacebuilding as a post-Cold War liberal project has proved to be more positive than negative, especially in conflict termination. However, the peacebuilding agenda has had its limits in terms of progress in democratization, judicial institution-building and economic development, despite potential for greater success. Peacebuilders are more likely to succeed in transforming societies torn by armed conflict if they can avoid making the process excessively competitive. Democratization and capitalist development are already competitive processes, and the pursuit of retributive justice takes the form of judicial punishment. Together these strategies can form a recipe for competition and conflict, especially in institutionally weak states where the history of distrust among warring factions or former enemies is long and intractable.