Transcript - Izzit.org

WOMAN: And when the internet arrived it became a world-wide market in cyber space.
MAN: There are markets for everything – big things, small things – even markets in ideas like leisure
and holidays. Perhaps the commonest, everywhere in the world, are the markets for the food we eat.
They are important meeting places, too. People may go to buy and sell, but they don’t miss the chance to
catch up on the local news and discuss local issues. But along with all the swapping, there is an
information system at work – information about what there is to sell and what there is to buy, information
about what is scarce, and what is plentiful, information about what is not worth much, and what is
considered valuable.
WOMAN: Markets that flourish do so because they work. If they didn’t, they would soon go out of
business because voluntary transactions that don’t work tend not to be repeated. People are like thatregardless
of the control and politics of the society in which they live. They come away from the market
immediately satisfied with what they have acquired, and what they’ve learned. And that’s the nature of
every market in the world.
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