It was inevitable, but it's still awesome. Someone has set up a page to do a translation of a major work through a wiki. And what an appropriate choice: Check out this effort to translate Bastiat into German.
The idea is that books can be translated by opening up the text to anyone who wants to fiddle with word choice or emphasis. The real question: Who will do the grunt work to get the translation started? I can't read German, so I'm not sure how this one works, but it seems like a Babel Fish or other automated translation might be a good place to start.
What books would you help translate?
More wikilicious fun from reason here.