2.02: Let's face it, in real like, you'd probably blow all the money on lottery tickets

I'll start with my answer to this question:

I would put the money towards providing fresh water throughout the world. It's a relatively simple thing, but lack of clean water kills millions of people a year - and the sad part is there's absolutely no technological barriers preventing us from fixing the problem. It's not like AIDS or some other disease where there's no way of knowing how much money it could eventually cost - we have the technology to provide water to the world, just not the will or the dollars.

However most of you came up with awesome answers as well. Some highlights:

Kristin:

Definitely going to have to agree with an episode of West Wing on this one... transportation infrastructure in developing countries. it does the following (my reasons, not west wing): 1. encourages intelligent urban planning, ie no urban sprawl/opportunities for slums, both of which are huge problems in latin america, asia, and africa. 2. being able to travel easily and reliably is necessary for economic growth, political stability, and required for and kind of health infrastructure.

Steve (with a second from Nate):

Steve: Public education. Not just throw money at it, either. I mean totally re-structure (and enforce) national curriculums, college entrance standards, standardized testing, the works.

Nate:

I would start an endowment for the U.S. public education system. A cool $100 Billion would be a solid start for an endowment. The endowment would have a non-for-profit status, allowing donations to be tax deductible. We would have to steal some of endowment management techniques and personel from Harvard, Yale...etc in order to generate the kinds of returns we would need. The average endowment return last year was 16%...not too shabby. Yale achieved the highest reutrn of 28%.

The only challenge would be how to allocate the funds appropriatly. This could be impossible, but since this is the question of the week, it is possible. I picked education because it is the only investment that will beat the "market" consistently over the long run. Not only is education a market better, some studies have found an educated public generates exponential like returns.

And for bringing the funny, Rachael gets honorable mention as well:

I think with the money I would build a giant dance floor over part of the Pacific Ocean and hold a worldwide dance party. I'd play some Jesse's Girl... perhaps some Bon Jovi? It doesn't matter, everyone would get their chance on the giant sound system. I mean, who can be angry while listening to Rick Springfield? The answer is no one. And there you go... world peace. :o)