Heros of Economics: Noah

In my pantheon of great economists, Noah has a front row seat.  He was the original contrary investor.  Everyone knows a boat is a hole in the water the owner of which constantly tries to fill with money.  Imagine what the ark cost!  And all the time everyone around was constantly saying the same thing,  “Noah, you fool, it ain’t gonna rain!”  So good riddance.  He also had enough sense not to put all the big critters on the same side.  If creationists have their say then you can just guess what would happen with elephants and gigantisauruses all huddled together.  That’s the second lesson of contrarian thinking attributable to Noah.  When everyone runs to one side of the boat, you had best beat feet to the opposite.  With so many problems confronting the global economic system today, that may be hard to do, but keep an eye out for any break in the storm.  Those shoals ahead might just be the tip of something big about to emerge.