Of course times have changed, but a foreign policy based on strength and consistency is what Cruz is talking about, and that was the basis of Reagan's policy.
What we have now is a foreign policy of weakness, apology, "flexibility", and lies, and that isn't working at all.
Sherman is right. Foreign policy is defined by the foreign policy period such as the Post WW2 period, the Cold War Period, the Post Cold War Period, which can be broken down into the Post 9-11 period, the Post Bush Period, and the Post Bin Laden Period.
You can break the Cold War Period down into three periods: the pre oil shortage period, the oil shortage period, the post oil shortage period. When the oil shortage period began the rising price of oil gave the Soviets sizable sums from their exports with which to create problems. But eventually oil supply caught up with demand, the price of oil began to fall, the Sauds flooded the market, the Soviets went into a nose dive, and eventually collapsed. The same thing is happening today. The rising price of oil in the oughties gave Russia sizable sums from exports with which to create mischief, but supply eventually caught up with demand and the price has begun falling and Sauds are flooding the market. Putin/Russia might be in deep doo doo.
OTOH, in the 70s, during the oil shortage period, the US invoked the Carter Doctrine, which is still a major component of US foreign policy.
Beyond all that, both parties have competing foreign policy doctrines. In the GOP there are Realists, NeoCons, and Isolationists. Democrats have Realists, Liberal Interventionists, and Anti war pacifists. Right wing isolationists don't have much influence on foreign policy and Antiwar pacifists don't have so foreign policy is determined by Realists, NeoCons, and Liberal Interventionists.
GOP presidents' foreign policy team is always made up of Realists and NeoCons while Dem presidents' foreign policy team is always made up of Realists and Liberal Interventionists.
As a broad and general statement, you can say that under Nixon, Ford, Carter, Reagan, and GHW Bush, the Realists were the most influential. The Liberal Interventionists rose to power under Clinton and the NeoCons rose to power under GW Bush. The Realists have had the most influence under Obama.
As for Ted Cruz, he is trying to project that Realists and NeoCons would share power if he was prez.