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In "An Economic Recovery Program for the Post-Bubble Economy" -- the first proposal in New America's new Big Ideas series -- Bernard L. Schwartz and Sherle R. Schwenninger warn of the dangers of misreading the current slowdown, and map out a plan for harnessing the U.S. economy to the two most important new growth drivers: public infrastructure investment and rising global demand for efficiency-enhancing technology.

One of the strange side effects of the current financial crisis is that the once taboo idea of public financing in telecoms is no longer taboo.