This book looks at why Frank Capra's It's a Wonderful Life is either the most inspirational or the cruelest film American cinema has ever produced. It depicts, perhaps unwittingly, an ontological war in which two well-matched adversaries fight a series of pitched battles that neither side can win without producing tragic remainders.

A Tale of Two Films: "It was the story I had been looking for all my life."
Ontological Context: "George Bailey. Yes, tonight's his crucial night."
Eternal Return: "I'm leaving right now. . ..This is my last chance."
The Gentle Face of Transcendental Terrorism: "You see, George, you really had a wonderful life."
Responsible Subjectivity: "George Bailey, I'll love you till the day I die."
The Day After: "What are you but a warped, frustrated young man?"
The Specter of Pottersville: "You'll see a lot of strange things from now on."
Wonder and Cruelty: "Get me back. I don't care what happens to me."
Romance or Tragedy? "To my big brother, George. The richest man in town."