On January 31, 1996, Pioneer Institute Executive Director James A. Peyser delivered an address to the Boston Economic Club, in which he proposed radical reforms to the structure of public education. This publication contains an edited transcript of the speech. The speech argues that after 30 years of stagnation and decline, only fundamental structural change can bring about lasting improvement in public education. It also argues that deregulation, independently managed schools, and choice should be the cornerstones of a new structure, one that benefits from competition, commitment, and the shared community that only real educational choice can create. A series of steps is outlined for creating a market-driven educational system. Three figures are included. (LMI)