What is the added value of strategic theory in the understanding of Swedish securityand defence policies? By introducing a series of concepts that identify policiesthat are pursued in both peace and war such as escalation, deterrence, andweapons acquisition, we argue that strategic concepts contribute to the analysisof Swedish security policy mainly by highlighting forms of policy that do not conceptuallyrest upon the dichotomy of war and peace. Differently from mainstreamscholarly analysis that treats deterrence as one, uniform concept, we differentiatebetween four different logics of deterrence. Using this conceptual tool, we analyseSwedish policies in the 1950s and 2010s and discover that although Sweden pursueddeterrence during both this periods, her policies depend on a different logic. Bycomparison, 1950s Sweden understood to pursue deterrence understood as a wall,while 2010s Sweden understands the term in terms of a shield.