The International Advertising Association (IAA) is holding its World Congress in Washington D.C. this week, when hundreds of advertising and media executives descend on the nation’s capital to talk about social communities, marketing regulation, return on investment, and, of course, the economy.

Here’s what ad industry types are saying:

“Advertising and the economy seem to go hand in hand. Really, the fact that the economy is weakening is going to have an impact on the industry in the short term.” Bob Liodice, President, Association of National Advertisers

“An actors’ strike would be incredibly devastating, particularly to the television business. The industry paid a large price for the last work stoppage. I don’t think either the (local) economy or the business would be able survive something like that.” Jeff Zucker, Chief Executive Officer of NBC Universal

“Speed is the new big.” Chuck Brymer, Chief Executive Officer, DDB Worldwide

“We’d love to be able to be able to put all that we do together… Unfortunately, our industry is just not doing a very good job of integration.” Michael Roth, Chief Executive Officer, Interpublic Group

“Measurement is fundamentally the biggest challenge we as an industry face.” Elizabeth Ross, President, Tribal DDB

“What we’re going to see is a shift in advertising. Companies want to make sure they get the best ROI during these tough times. But they won’t stop spending, and I think they really should spend more.” Wally Snyder, President, American Advertising Federation

“Right now they (18-26 year olds) are spending more time on the Internet than they do a combination of TV and radio. About 15 hours per week.” Kevin Johnson, President, Platform and Services Division, Microsoft

“We’ve stopped using the term ‘consumer.’ If you think about it, it’s somewhat derogatory. Makes people sound like eaters.” Tom Bernardin, Chief Executive Officer, Leo Burnett

“The business model in which the agency’s sole function is to create advertising and buy media on behalf of clients is no longer viable. Indeed, we need a new model. The agencies of the 21st century need to develop relationships with clients where both parties share risks and rewards equally in true partnership.” Tateo Mataki, Chief Executive Officer, Dentsu