How does one BIS Review 106/1997  -3value the benefit to the patient when a condition that once required a complicated operation and a lengthy stay in the hospital now can be easily treated on an outpatient basis?
Although there is considerable uncertainty, the pace of change and the shift toward output that is difficult to measure are more likely to quicken than to slow down. How, then, will we measure inflation in the future if our measurement techniques become increasingly obsolete? We must keep in mind that, difficult as the problem seems, consistently measured prices do exist in principle.