O'Sullivan begins his admirable study by making the arresting point that the times seemed to have by-passed Reagan, Thatcher, and Karol Wojtyla, who embodied such seemingly "fading" virtues as faith, self-reliance, and patriotism. But the unexpected death of the Italian John Paul I led to the election of the Polish John Paul II in 1978; Jimmy Carter's monumental ineptitude at home and abroad prepared the way for a conservative alternative in Reagan in 1980; and Britain's accelerating economic decline coupled with a series of often violent strikes in the winter of 1978-79 brought the country to the edge of anarchy....