Set in the 1980s at a small, affluent liberal arts college in New England, the novel captures the lives of a group of self-absorbed, hedonistic students as they navigate a world of casual sex, drug use, and apathy. Through a series of first-person narratives that often overlap and contradict each other, the story delves into the disaffected and aimless existence of these young adults, exploring themes of unrequited love, the search for identity, and the meaninglessness of the college social scene. The characters' intertwining relationships and the consequences of their actions paint a bleak picture of the disillusionment and moral ambiguity of the era.

The novel is a layered narrative that alternates between the protagonist, a writer, working on his novel in 1960s New Hampshire and the story within his novel set in 1930s New England. The protagonist's story explores his relationships with his family, friends, and fellow writers, while the story within the novel follows a young man's journey of self-discovery during the Great Depression. The book won the National Book Award for Fiction in 1975.