There is a mounting gap between what the headlines say about the costs of cyber insecurity to the U.S. economy and the results of data-driven research on this topic—with negative implications for cybersecurity. Congress should move to narrow the gap by passing a federal law that takes two steps to protect data. First, it should require companies that possess sensitive personal information to publicly disclose when significant breaches of this information occur.
Christos Makridis completed his doctorates in management science and engineering and economics at Stanford University. He is a digital fellow at the MIT Sloan Initiative on the Digital Economy and a non-resident fellow at the Harvard Kennedy School of Government Cyber Security Initiative.
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