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Actually, I see it happening now but in India or China.
Take the 35/65 dollar Indian ereader. Have the government hire someone to create a textbook. The government pays a flat rate (a salary) and makes the text free to school children. Even with loss and breakage of the hardware it would probably be cheaper than providing physical texts to several hundred million students.
... But can you picture the issues with producing a government approved history text in an open political system like the US? Who gets the say on what events get included? The editorial tone? Will it get re-edited each time the administration changes? I'm sure we can overcome bias charges by building a huge bearaucracy of fact checkers, and a bipartisan commission or two.
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