Correction to “Big is Ugly”

Originally published September 17, 1984

Between Issues

PRAISING Anthony Burgess’ A Clockwork Orange in THE NEW LEADER of January 7, 1963, Stanley Edgar Hyman declared: “Perhaps the most fascinating thing about the book is its language. Alex [the protagonist] thinks and talks in the ‘nasdat’ (teenage) vocabulary of the future, a remarkable invention by Burgess …. It has a wonderful sound, particularly in abuse, when ‘grahzny bratchny’ sounds infinitely better than ‘dirty bastard.”

Before the issue had been out a week, the phones were humming and the letters were pouring in: Didn’t Hyman know that the “amazing vocabulary” he was so taken with consisted largely of adaptations from Russian? At the NL, readers rarely write to praise; they seem to feel (rightly, in our view) that good or even excellent pieces should be the norm. But a goof will soon bring guffaws. And among those who could not resist at least a smile was Burgess’ publisher, George P. Brockway of W. W. Norton-who nonetheless thought so highly of Hyman’s essay that an emended version became the Introduction to the paperback edition of Clockwork.

We were reminded of all this when the phones began ringing and the letters started arriving about a blooper by Brockway- now an NL columnist-in “Big is Ugly,” his cover piece for our September 3 issue. One representative letter, from Lloyd McAulay Esq., will suffice to illustrate: “George Brockway’s original comments on the economic scene are interesting to read, for they certainly make one think. However, one would like to believe that he presents his proposals with some care. His example of financial alchemy in the 50 per cent tax bracket is amiss. He suggests that borrowing $100,000 from Bank Aat 15 per cent interest, and investing it in Bank B at 13.6 per cent interest, will provide an annual after tax net of$ 3,050. That is just not careful arithmetic. True, the $15,000 interest on the loan from Bank A will only cost the borrower $7,500 after taxes. But the $13,600 interest on the Bank B deposit is taxable income. At the 50 per cent bracket’ this will mean net earnings of $6,800. Since the loan cost $7,500, the taxpayer would have a net loss of $700.”

Apparently Brockway remains a careful reader, because we had not yet had a chance to get in touch with him when he sent along the following:

“Oops! I of course slipped in my column of September 3 when I parenthetically outlined a rich man’s scheme for borrowing money and buying CDs. For the dodge to work, you have to buy tax-exempt bonds and take your chances on the market. In other words, you have to do a little laundering, but it’s so simple that you don’t even have to go to Miami for the purpose. Sorry.”·

Readers may reasonably wonder why the editors were not more careful readers. To that we can only reply, rather lamely, that the games the rich play are Russian to us.

OUR COVER drawing of Israel’s Prime Minister Shimon Peres is by Claudia Fouse.

The New Leader

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: