While several books have been written about the life and views of Walter Lippmann, this volume is unique in its emphasis on Lippmann's relationship to American liberalism. Riccio examines Lippmann's political thought as evidenced in both his "scholarly" and journalistic work. He observes that although Lippmann started out as a socialist and ended up as something of a conservative, he usually backed liberal public policies and often explored liberalism's philosophical underpinnings.

Walter Lippmann—Odyssey of a Liberal describes Lippmann's attraction to, involvement in, and disillusionment with American socialism prior to the First World War. It chronicles his brief career as a progressive reformer, and his subsequent disenchantment with that movement. Riccio also examines Lippmann's views on foreign affairs. Lippmann's relationships with conservatives and their influence on his views are also explored. Riccio articulates Lippmann's vision of liberalism as being at odds with much of the liberal mentality of his tune. In particular, he contrasts the pundit's views on politics, economics, public opinion, and moral authority with those of John Dewey.