It is not a point of which I am much ashamed. Having grown up in the 1930s, I have a hatred of unemployment. The reason why we over-reacted, if over-… - Quintin Hogg, Baron Hailsham of St Marylebone

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.

I have never believed in peace at any price.

The second principle is that a nation should know what its interests are and should then ascertain what military power is required to defend them. A nation which fails to do this does not thereby escape the necessity of fighting for its legitimate interests; it only ensures that when it does have to fight it will not have the power to fight successfully. The Left consistently denied this principle. The argument used amounted to the pretence that the protection by fair means of a legitimate interest was not a moral or righteous purpose in foreign policy. This delusion is based on the double fallacy of supposing that interests are always immoral things which it is wrong to defend and of supposing that interests which are not defended by those who possess them will ever be preserved by anyone else. To this day this fallacy permeates nearly all left-wing propaganda in domestic and foreign policy alike.