The informational structures within markets have been a subject of research for the past 35 years.  In the last ten of these years, the internet which in the language of economics is a form of technological progress, has begun to alter the informational structure of markets in fundamental ways.  The question is what parameters that govern the formation and functioning of markets are being altered and with what consequences.  The idea is that the transaction costs associated with the formation and functioning of markets have been reduced.  The results are quite comprehensive.  The geographical boundaries of markets are changing, relative prices of important assets like human resources are changing in multiple locations, and the evolution of the global economy is being quite dramatically influenced by the potential of these changes.  The lecture will focus on trying to suggest the direction of these changes and ways to think about them systematically