Journal Entry: Economic Theories & Social Science Principles related to Data Breach Notifications

The Marxian and laissez-faire economic theories relate to the sample data breach notification letter. Marxian economic theory relates to the letter because the attackers, those with power due to their technological skills, have exploited the platform provider, which has less technological prowess. Laissez-faire economic theory relates to the article because the platform provider reported the data breach to the government, who then investigated the breach, rather than not interfering at all. 

The social science principles of relativism and parsimony are also related to the letter. Relativism is related to the letter because a change in the security of the platform providers’ systems resulted in a change in the security of the website’s user data. The social science principle of parsimony relates to the letter because of the simplicity of the breach notification. Rather than delving into the technical details of the breach, the company explained the details clearly and concisely in a manner that is understandable to users lacking a technical background. 

Leave a Reply

Your email address will not be published. Required fields are marked *