Ross argued that people employ implicit theories of stability and change as they remember previously held attitudes or prior states of affairs. He acknowledged that the application of these theories is conditional, but does not explore what these conditions might be. We examine here whether implicit theories are context-sensitive, that is, whether implicit theories that apply when present and past contexts are similar also apply when the present and past contexts differ. The issue is explored by looking at Romanians' memory for previously held political opinions and prior prices for common and uncommon products. The results suggest that memory for prices is sensitive to changes in the political – economic environment, but memory for political opinions is not.