Future markets work as long as people keep their promises, their commitment supported either by law or culture. No wonder, forward contracts were invented in Japan, a country where culture is built on mutual respect and commitment to one's word. Being and island nation, Japanese farmers and merchants had no place to run from public shame and economic ruin, caused by one's low business ethics. Most likely, in a not so distant future, Facebook, LinkedIn, Farmville, or some other transparent social environment, will provide a similar honor mechanism for markets of novel digital goods.
tags: market, information, invention, innovation, quote, economics, social, network