Cybersecurity – Market Failure or Public Values Failure or both?

The Center for Strategic and International Studies is delivering a report, “Securing CyberSpace for the 44th President,” which notes, among other things, :

“We believe that cyberspace cannot be secured without regulation,”

The report, which offers guidance to the Obama administration, is a strong indictment of government and private industry efforts to secure cyberspace to date. “The laissez-faire approach to cyber-security has failed,” Mr. Kellermann said.

So, the commission concludes the market has failed to secure cyberspace.  And, it has also concluded that current government policy has failed to secure cyberspace.

In the intro, the report reads:

We advocate a new approach to regulature that avoids both prescriptive mandates, which could add unnecessary costs and stifle innovation, and overreliance on market forces, which are ill-equipped to meet public safety and national security requirements.

So, we have reasons why the market fails with regards to cybersecurity.

Not surprisingly, DHS is defending itself against the Commissions’ criticism of how cybersecurity has been managed.

“To be fair, we are undertaking something not unlike the Manhattan Project,” Keehner said. “Billions of dollars are going into this effort. We’re the first to admit there is more work to be done, but the progress that we have made should not be discounted.”

For further reading — see presentations made at CSIS event called

Improving Cybersecurity : Recommendations from Private Sector Experts

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Filed under cybersecurity, Market Failure, Policy

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