In his upcoming book about the horrors of the 20th century, "The War of the World," the British historian Niall Ferguson has a chapter called "The Pity of Peace." It is about 1938, when World War II loomed, and Britain -- especially and importantly Britain -- did precious little to stop it. The warnings of Churchill -- "believe me, it may be the last chance . . ." -- were ignored, and the government under Neville Chamberlain obstinately pursued a policy that forever after made the word appeasement one of the most odious in history. Somehow, though, it looks like...