This paper outlines the danger of continuing the conventional and nuclear arms races and offers alternatives to ensure both peace and security. There are five major sections to the paper. In the first section, "Mulitlateral Approach," global multilateral accomplishments, regional multilateral activities, and bilateral negotiations are discussed. Section two deals with the "Second Special Session on Disarmament" (SSOD II). The opportunities and hazards facing SSOD II and specific recommendations to stimulate progress are explored. "Multilateral Disarmament Measures" is the topic of the third section. Included is a discussion of strategic nuclear arms control, the comprehensive nuclear test ban, the International Atomic Energy Agency, treaties, conventional arms reduction, outer space, regional arrangements, and confidence-building measures. The fourth section discusses obstacles to multilateral disarmament such as tradition, myths, limited approach, low priority, lack of disarmament organizations, inadequate constituency, and lack of leadership. The concluding section points out some hopeful signs. For example, economic pressures to reduce military expenditures are mounting. A second hopeful omen is the growing realization of what technology has wrought: mind-boggling weapons which, if used, would ravage modern civilization and threaten human survival. (RM)