Read this sample breach letter “SAMPLE DATA BREACH NOTIFICATION” and describe how two different economics theories and two different social sciences theories relate to the letter.
https://dojmt.gov/wpcontent/uploads/Glasswasherparts.com_.pdfLinks to an external site.
Economic Theories:
- Marxian Economic Theory: This theory helps understand how the company and its platform provider hold power over customer data. The breach shows how the company might prioritize making money over protecting the personal information of the customers, reflecting a conflict of interest between those who control data and those whose data is being controlled.
- Laissez-Faire Economic Theory: This theory supports the idea that the company should manage the data breach independently, without too much interference from the government. It suggests that businesses should handle their own issues without much external control.
Social Science Theories:
- Social Contract Theory: This theory explains the unwritten agreement between the customers and the company about safeguarding personal information. The breach notification is an attempt to address this breach of trust by informing customers about what happened and offering advice on how to protect themselves.
- Diffusion of Innovations Theory: This theory helps to understand the notification’s purpose in spreading information about the breach and what people can do to secure their data. It’s like sharing a new idea or solution to address a problem – in this case, the problem of a data breach.