This was actually pretty much tried. Here is an online source I found:
https://encyclopedia.1914-1918-online.net/article/peace_initiatives
Its a long article, but pretty comprehensive. The short summary is that the Central Powers did kind of sort of float several peace proposals that the other side rejected.
The basic problem with ending the war early is that the German army was successful in making sure the war was fought almost entirely outside of Germany, and even Austria-Hungary was mostly cleared of enemy troops after 1915. But the Entente/ Allies had a much greater capacity to wage war in terms of finance, industry, and population and everyone knew it. Both sides expected the next great series of Allied offensives on all fronts to do the trick. They were even planning this for 1917 before the Russian revolution and the French mutinies. Russia didn't drop out right away after the Tsar was overthrown and the USA came in, so the expectation was still for an Allied victory. But the CP had an understandable problem with just throwing in the towel if they kept winning operationally.
https://encyclopedia.1914-1918-online.net/article/peace_initiatives
Its a long article, but pretty comprehensive. The short summary is that the Central Powers did kind of sort of float several peace proposals that the other side rejected.
The basic problem with ending the war early is that the German army was successful in making sure the war was fought almost entirely outside of Germany, and even Austria-Hungary was mostly cleared of enemy troops after 1915. But the Entente/ Allies had a much greater capacity to wage war in terms of finance, industry, and population and everyone knew it. Both sides expected the next great series of Allied offensives on all fronts to do the trick. They were even planning this for 1917 before the Russian revolution and the French mutinies. Russia didn't drop out right away after the Tsar was overthrown and the USA came in, so the expectation was still for an Allied victory. But the CP had an understandable problem with just throwing in the towel if they kept winning operationally.