Daniel Cobb

Journal Entry #12

201S

March 31, 2024

Rational Choice Theory: GlassWasherParts.com and its platform provider can be seen as making rational choices regarding cybersecurity investments. They weigh the potential costs of implementing robust security measures against the potential costs of a data breach, including financial losses and damage to their reputation.

Marxian Economic Theory: From a Marxian perspective, the data breach at GlassWasherParts.com could be viewed as an instance of those with power the platform provider, hackers. Exploiting those without power for economic gain. The breach highlights how individuals’ data can be exploited for financial motives, with potentially severe consequences for customers who may lack the resources to protect themselves adequately.

Classical Economic Theory: Classical economic theory suggests that market forces should largely determine the level of cybersecurity provided by companies like GlassWasherParts.com. Under this theory, companies are motivated by profit to invest in cybersecurity measures in proportion to consumer demand for secure services.

Laissez-Faire Economic Theory: The laissez-faire perspective might argue that individuals have a right to privacy, and the government should intervene to protect this right against potential exploitation by companies like GlassWasherParts.com and its platform provider.

By examining the data breach incident through the lens of these economic theories, we gain insights into the motivations, power dynamics, and potential interventions relevant to cybersecurity in the digital marketplace. We can foster a better understanding using these theories on the diffrent perspectives.