The program shows how some of these "medicines" are manufactured by serial dilution (to the point of non-existence), and how they depend on water memory for their power. That power is, I believe, entirely due to the placebo effect. Not that there is anything wrong with the placebo effect, it sometimes works, and avoids expensive occasionally dangerous, treatments and drugs. Of course when real science is used to study the efficacy of any drug, the placebo effect must be ruled out or controlled, and that is reason for the gold-standard double-blind study. The homeopathic drugs mentioned in the program above would likely fail a double-blind study.
Of course Marketplace goes on to suggest that governments should take control of homeopathy. Across Canada government regulation of homeopathic medicine varies from province to province. Most of the regulation (coordinated by Health Canada) is designed to protect consumers from any harm due to the medicine. The CBC implies that this regulation somehow lends credence to the drug's efficacy, and the government should ban the medicines outright because they are ineffective. While understandable, prohibition never works and it will not in this case. People like to have control over their own medical care. That is an issue our governments and politicians will need realize soon enough as public funding of medical services explodes.