Persistence in Economics

In the last ten, 15 years or so, i think we sort of realize that this may actually be true. The idea that something in the past still influences things to day at that level of generality is obvious and not terribly exciting. And perhaps even more excitingly, i think the thing that's really exciting byt persistence is where it doesn't happen. There's sometimes radical change, which, you know, is more of a surprise than we gave it credit for. But if you just think back to, say, madmen, rit this american television, serious about advertising. Executives on madison avenue. You now, that's the generation of my parents,