Paul Krugman used to be an economist. Today he writes for the NYTimes as “The Conscience of a Liberal” , which has his editorial commentaries generally aligning with popular folk economic beliefs .
As one would expect, examples abound of apparent contradictions with what economist Krugman advocated 20 years ago, and what folk economist Krugman advocates today. The most recent example of note is his 180 degree dismissal of the law of supply and demand as forces related to wages.
I would like to suggest that what Krugman is exhibiting is an example of extreme rationality — that is, a strong combination of both epistemic and instrumental rationality. See my post on the topic here .