Economics of Cybersecurity
National security is often regarded as a conical public good. Are all members of society equally covered under this especially in the cyber realm? Security and defence experts claim that the Cyberworld could be the ‘5th Dimension’ of warfare. With the growing number of technological advances, some profit from misusing the technology for personal gain. Why do breaches happen when there are technological solutions to prevent them? Is the cost of providing said security more than a possible loss from breach of information? You would think that tech companies and banking and financial institutions would not take risks while handling your personal information and other confidential information you divulge…
Lessons on Social Media and Mainstream Media in the Light of US Capitol Attack
An EU official termed the attack on Washington incident as “social medias 9/11” and we need to acknowledge that 9/11 caused a shift in global security so should this unfortunate incident. Social media offers a platform that I free of consequences, legal and otherwise. President Donald Trump legitimized radical supporters by calling out to the on social media, in person and other platforms. Plans to storm the capitol were made in a public forum and nothing was done to combat with such obvious warning signs. The fact that mainstream media in its way enabled the attack is irrefutable. Right-wing media spread disinformation about the election and contested President-Elect Joe Bidens…
Economics of Terrorism
As an economist, I am hardwired to believe that people respond to incentives. What possible incentive could there be to convince someone to end their life for a cause? In this piece, I hope to peer into the economics of terrorism. As is with all activities in the globalised world terrorism also requires resources. There are multiple options and sources and in the interest of remaining politically neutral, I do not wish to name any. Conventional wisdom and ‘experts’ in the media help us think that terrorists come from low-income households, have poor education and no understanding of what they are doing. However, a pioneer in the field, Alan Krueger…
Virtual Assets- Potential Red Flags for Illegal Activity
Neha Ramesh Virtual assets are any digital representation of value which can be traded or invested in a particular environment, it can be used as a means of exchange or store of value among a given group or community. The scope of virtual assets go far beyond crypto currencies, they may or may not be assigned values in fiat currency. Blockchain technology that gained traction in the past decade has created a new world in finance and subsequently money laundering and terrorism finance. Case studies done between 2017-2020 showed that the majority of crimes committed using virtual assets were money laundering offences. The criminal world has also taken…