Naguib Mahfouz's "Palace Walk" explores the intricate relationship between dreams and despair within a family in early 20th-century Cairo. The characters grapple with their ambitions and realities, questioning whether their aspirations can truly be fulfilled or if they remain unattainable like those of the past. This conflict reflects broader societal changes and personal struggles, emphasizing the weight of history on the present.

The quote "Are the hopes of today as lost yesterday?" encapsulates the central theme of the novel. It prompts readers to consider how previous failures and experiences influence current desires. The characters' journeys illustrate the challenge of reconciling their hopes with the harsh truths of their lives, ultimately driving them toward self-discovery and resilience despite the shadows of lost expectations.