Several years ago, a young friend and fellow liberal approached Gilbert Harrison, longtime editor-owner of the New Republic. "Gil," he said, "if you're ever thinking about the future of the magazine, I'm interested." Last week, after guiding NR through one-third of its intellectually rich and financially lean six decades, Harrison returned the friend's interest by placing NR's future in his hands. The new owner and editorial chairman: Harvard Social Scientist Martin Peretz, 34, advocate of leftish causes and angel of liberal Democratic candidates (Eugene McCarthy, George McGovern).
The independently wealthy Peretz, whose wife...