Almost two years after the publication of the "Integrated Review", the British govern­ment has updated its security strategy. This "refresh" is primarily intended to adapt to the rapidly advancing development towards a contested and fragmented global order. Without indicating a radical shift,...

These notes are based on parts of a keynote address to the Fourth Annual Conference on Money and Finance at Chapman University on 6-7 September 2019. Quantitative easing (QE) policies have been pushed to extremes and extended well beyond their use-by dates to little plausible effect in achieving...