THE DECLINE OF THE WASP
by PETER SCHRAG
255 pages. Simon & Schuster. $6.95.
There is nothing quite like a master theory of history to set the old blood coursing. Master Theorist climbs his neat little mountain. He looks down upon the massesants, really. He hears the rush of centuriesa mere ticktock. Then he closes eyes and ears tight and pronounces his patented, stretch-fit perspective. Can any high match the high of an intellectual passing the aeons in review?
To the list of great pulse flutterers like Toynbee and Spengler must now be added the...