What fools we were,” King George V told his prime minister, Ramsay MacDonald, in 1930, looking back to the era before World War I. In the context of the wartime catastrophe his generation had delivered, the king may have had a point. Arthur Balfour, prime minister from 1902 to 1905, lamented “some process of social degeneration” that “may conveniently be distinguished by the name of ‘decadence.’” Joseph Chamberlain, the most charismatic politician of the late-Victorian age, put it more pithily. “The Weary Titan,” he said in 1902, “staggers under the too vast orb of its fate.”
For many Americans today, perhaps