From the incomparable Ben Goldacre:
http://1023canada.scienceontheweb.net/blog.php?bid=102
Homeopathy works no better than placebo. Which means it has an effect. But an effect that can be delivered without costing a small fortune. Homeopathic remedies contain no active ingredient. Homeopathic remedies contain nothing of any medical benefit. Homeopathic remedies are a very, very expensive way of buying water or sugar. That’s it.