The only way the system can succeed, he said, is to be just as fast and twice as agile. That is the challenge that lies ahead, and it is, indeed, a large one. There are, however, reasons for optimism.
The information revolution, which lies behind so much of the rapid technological change that makes prices difficult to measure, may also play an important role in helping our statistical agencies acquire the necessary speed and agility to better capture the changes taking place in our economies.