The fundamental principle of all foreign policy is that enunciated by Mr. Walter Lippmann, when he writes that you must balance commitments with powe… - Quintin Hogg, Baron Hailsham of St Marylebone

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The fundamental principle of all foreign policy is that enunciated by Mr. Walter Lippmann, when he writes that you must balance commitments with power. To fail to do this is not brave, moral, "realistic", "idealistic", "progressive", or "reactionary". It is merely silly. To incur commitments without building up power to discharge them and to call this practice collective security is at the worst political chicanery and at the best self-deception, and leads inevitably to bankruptcy, military, political, and moral. This was consistently the policy of the Left in the years 1919–39.