The story is Johann Wolfgang von Goethe’s; the film is unmistakably F.W. Murnau's.
The Archangel (Werner Fuetterer) and the evil one are in a struggle for the world. Both are sure they know best. A bet is struck for the soul of a religious alchemist named Faust, as we can see, he has knowledge of the elements, yet maintains a moral attitude.
A great plague appears, and with all of his books and learning, Foust can not save anyone. He turns to prayer and seems to get nowhere. So, in a fit, he burns his books; in the embers, he spots a book that suggests he call on Mephisto (Emil Jannings). He does so and is repelled at what he did. However, after some dickering, he accepts a one-day contract to at least be able to help some of the plague victims. Naturally, he is to reject God and sign in blood. And you guessed it, things go wrong. He is tempted by youth, “Your Life was only the dust and mold of books.”, and distracted with an Italian cutie Duchess of Parma (Hanna Ralph) just long enough for the sands to run out on him. From there, things go downhill, but the story heats up.
With the overwhelming visuals and great acting, one tends not to notice the elements or threads that tie this film today to our society. Notice the standard circle and the calling upon the four corners as Faust calls three times the name Mephisto. Also, notice the garlands that Gretchen made for the children. More interesting is the use of the flower with “She loves me…she loves me not.”
Emil Jannings does such a good job that you almost find yourself rooting for the bad guy.
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