Ultimately, we are responsible for ensuring our own security and our incentives are aligned with those of third parties with whom we can contract to assist us. In this regard, security is no different than many other desirable things.
Political candidates are offering endless government spending and "free stuff" for everyone. But at the same time, governments appear incapable of performing even basic duties like ending street riots.
Whether today's Great Monetary Inflation (which began in 2011) will end with sustained CPI inflation remains a wide-open question at this point. Prices could be reined in as in the 1990s, or a 1970s-style inflation could still be in store.
The specific institutional conditions in 1936 Britain caused inflation to work as intended once, and not well. Stimulus policy today completely ignores these origins and has become a universal solvent to heal all economic ills.
The global minimum tax rate will not hurt G7 members or large technology giants, but it will devastate small and dynamic countries that need to attract capital and investment and who cannot afford to have the tax rate of global leading nations.