A clique of New York intellectuals is unable to apply the ethics and philosophy they constantly reference to their own lives, in even the most basic way. Their narcissistic, moral shiftiness is sugared by some witty dialogue, Gordon Willis' gorgeous black and white Panavison, and the Gerschwin score. But there is a lot of satire here.
Their hypocrisy contrasts with a teenager (Mariel Hemingway) who is Woody Allen's younger girlfriend. She is the only one able to apply a system of values to her actual choices. Woody plays quite an amoral anti-hero. But she gives the story some optimism, including the sweet wisdom of her fabulous closing line.
The real hero of the film though is Manhattan Island, magnificently captured for all time. Including that famous, beautiful shot of Woody and Diane Keaton against the 59th Street Bridge at dawn. Sometimes the background overwhelms the dramas of these urban creatives in tide of romanticism and nostalgia.
The performances are all brilliant and the script is outstanding: 'My analyst warned me, but you were so beautiful I got another analyst'. Diane is always special in Woody's films. Possibly the artistic serenity of the surface style has obscured its distressed depths. But that makes it a fascinating film to rediscover.