LONDON– Perhaps there is an important political moral in the tale of the American baloonist, Steve Fossett, who earlier this week had to cut short his attempt to fly around the world, running out of fuel over India after being forced to detour Libyan airspace–that attempts to isolate so-called “rogue-regimes” can, if allowed to fester unresolved for too long, curdle all sense of proportion, by both perpetrator and object alike. If the Libyan regime has looked at this high flying baloon with ridiculously sour eyes then the U.S. and its western allies are also at fault for seeing Libya and other rogue states, Iran, Cuba, North Korea and Iraq as irredeemably outcast, not as manageable problems but as all-consuming threats. This is really to overdo it. All are basket-case economies. All are diplomatically isolated. All are bordered by states possessing great military potential. As the editor of Foreign Policy, Charles Maynes,...