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| Getting back to basics helps reduce security costs |
Many analysts gathered at the American Economic Association's two-day annual meeting in New Orleans spoke of a recession as almost a given but differed over how severe it will be. Alistair Milne, a professor at the City University of London's Cass Business School, told MarketWatch he's expecting "a really weak year," he said, the US economy won't likely get back on track until 2010 and will require more capital from overseas.
What does this have to do with the price of the price of Software Security in China?
If I recall the recession in the bottom of the last 5 year cycle, in 2002-3; the IT industry reacted by cutting costs. The telecom industry, were over-invested after the boom years of the 90s and they stopped buying equipment and really cut back. The watch word of the time was "reducing cost and complexity". In this age of Web 2.0, HD Television and the iPhone - I am going to go on record now as predicting that 2008 will be the year of reducing cost and complexity of security controls.
The Internet, Sarbanes-Oxley and Homeland Security have created an enormous sell-side economy that supplies technology countermeasures based on marketing and FUD (fear, uncertainty and doubt) tactics instead of a-priori financial analysis and justification. It is common for security technologies such as database firewalls to be touted as a silver bullet for PCI DSS 1.1, HIPAA and Sarbox compliance without any technical or business basis for the claim.
This is no more a sustainable model for risk management than is fueling an economy with cheap consumer credit.
For the full article see:
Economists say 2008 will be a year to forget
