Shut away nearby with 1950s youth (8)
I believe the answer is:
closeted
'shut away' is the definition.
(I've seen this before)
'nearby with 1950s youth' is the wordplay.
'nearby' becomes 'close' ('close' can be similar in meaning to 'nearby').
'with' is a charade indicator (letters next to each other).
'1950s youth' becomes 'ted' (member of a 1950s subculture).
'close'+'ted'='CLOSETED'
(Other definitions for closeted that I've seen before include "Do select (anag.)" , "Cedes lot, being shut away" , "Do select, being in state of cautious privacy" , "Shut away for private talk" , "Confined to a small space, as for intensive work" .)