The novel centers on the moral decay and insatiable greed of the Parisian elite during the Second Empire, triggered by the rapid urban transformation of the city. Saccard, an unscrupulous property speculator, maneuvers through the financial and social landscape of Paris to amass wealth, while his wife Renée and his son Maxime engage in a destructive cycle of illicit desire. The narrative explores the intersection of private corruption and public expansion, utilizing a third-person perspective to observe the characters' descent into decadence. The world is defined by the physical constraints of a rapidly modernizing city and the logical constraints of a society driven by unchecked material and carnal appetites.

Readers and critics frequently highlight the novel's unflinching portrayal of the corruption inherent in the Second Empire's rapid modernization. Discussion often centers on Zola's ability to mirror the physical destruction of old Paris with the moral erosion of his characters. The pacing is noted for its intensity, reflecting the frenetic energy of the financial markets and the characters' own volatile impulses. Scholars often emphasize the text's significance within the larger Rougon-Macquart cycle as a foundational exploration of greed and social decay. The balance between the architectural transformation of the city and the personal lives of the characters remains a primary focus for those analyzing Zola's naturalistic technique.