Babylon Revisited is a collection of short stories dealing with the Lost Generation, those who came to adulthood during the dehumanizing horrors of the First World War. Its diverse stories deal with the fallout of the stock market crash, the dissolute behavior of wealthy American students and artists abroad in Europe, and with the lingering horrors of World War I and the looming threat of a second brutal, bloody conflict.
The story is set in the year after the stock market crash of 1929, just after what Fitzgerald called the "Jazz Age". Brief flashbacks take place in the Jazz age itself. Also it shows several references to the Great Depression, and how the character had to adapt his life to it. Much of it is based on the author's own experiences.