Paul Krugman

Paul Krugman @paulkrugman

I'd suggest that there are actually two levels: folk beliefs about the economy — like the household budget analogy — and folk beliefs about what economic theory says, which are often pretty much the whole basis for heterodox schools of thought 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

And now many people believe that orthodox economics says that budget deficits always drive up interest rates and printing money always causes inflation, so events since 2008 — which were fully consistent with Keynesian macro — are construed as proving it wrong 4/ — PolitiTweet.org