(Source: BusinessWeek)

Economic difficulty can inspire extraordinary innovation. We asked futurists what they’d like to see arise from these difficult times

“History reminds us that at every moment of economic upheaval and transformation, this nation has responded with bold action and big ideas.” As President Barack Obama addressed a joint session of Congress on Tuesday, Feb. 24, he took a moment to look back, pointing to the innovations that have arisen from times of difficulty: the railroad tracks, laid across the country in the midst of the civil war; the public high school system that emerged from the Industrial Revolution; the GI Bill that sent a generation to college. Obama’s theme was clear: Times ofeconomic difficulty can inspire extraordinary innovation. And now, even as the markets continue their roller-coaster ride, he described a time “to put in place tough, new common-sense rules of the road so that our financial market rewards drive and innovation and punishes shortcuts and abuse.”

Of course, longed-for innovations don’t always make it to the market. Radically new ideas fortransportation were on most of the futurists’ wish lists, but the chances of a high-speed cross-country train within the U.S. still seem slim (we’re also still waiting on that flying car). But, as vehicle sharing and trackable, more reliable, and eco-powered buses gain popularity, chances are that better urban transit will become a reality.