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The idea whose consequences Weaver entails and deplores he identifies as nominalism or relativism -- the absence of belief in any source of truth outside man, the absence of universals, the reduction of all things to formless particulars.
You might have thought that such an idea was too abstract to have any impact on your life, but Weaver argues persuasively that nominalism makes impossible the "metaphysical dream" of an organized universe, leading to social chaos, formless art, virtueless individuals suckered by newspapers, movies and radio (today I imagine he would have added television to the list) into believing that life consists only of chasing ever more creature comforts and a universal "spoiled-child psychology".
He also prescribes remedies. The ownership of property, he argues, is the sole surviving "metaphysical right" our culture recognizes, and the starting point for anyone wishing to restore other metaphysical ideas. Because language is so closely tied to thought, Weaver argues for some language-oriented educational remedies (more emphasis on poetry in education, and on foreign languages, especially Latin and Greek). He also argues the case for the dying virtue of piety, which he defines as respect for nature, respect for the substance of others, and respect for the substance of the past.
There's more than a little of the grouchy conservative in Weaver. For instance, he complains bitterly about jazz, "the clearest of all signs of our age's deep-seated predilection for barbarism." This reminds me, amusingly, of Robert Bork's similar complaints in _Slouching Towards Gomorrah_ -- except that Bork complains that rock and roll is the degenerate music of adolescence, in contrast to the serious and adult-themed music of... you guessed it... jazz.
But this is a small flaw. Weaver's diagnosis of the ills of our age is insightful and thought-provoking. I, for one, am certainly willing to take a crack at his proposed remedies.
Weaver meticulously describes the ailment, including the chief causes of the crisis: (1) Replacement of transcendent sentiments with utilitarianism & pragmatism; (2) Undermining senses of order and hierarchy (from liberalism/collectivism); (3) Loss of focus and an embrace of fragmentary obsessions; (4) Exercise of raw ego and self-indulgence; (5) Dereliction of media responsibility; (6) Emergence of the spoiled-child phenomena.
Despite the rather gloomy prognosis, Weaver does not leave the reader without hope. In the final three chapters, he proposes corrective actions that he believes will get America back on track away from the path of self-destruction: (1) Preserve the sanctity of private property; (2) Use of meaningful language and rhetoric; (3) Embrace notions of piety and true justice.
After the elapse of fifty years, Weaver's estimation of the crisis as well as his proposed corrective actions are as relevant and useful today as when they were first written.
I highly recommend this book to historians of American conservative thought as well as those who wish to be inspired by one of the best authors that conservatism has been blessed to have.