‘the greatest transfer of wealth in history’, what a provocative phrase. Poking about I didn't see any direct references heaping blame upon the
unfettered access to the web by the working classes. Perhaps he just meant the criminal classes, you know, LIBOR types.
From OP's source
“Symantec placed the costs of [intellectual property] theft to United States companies at $250 billion a year, global cyber crime at $114
billion annually — $388 billion when you factor in downtime — and McAfee estimates that $1 trillion was spent globally on remediation,” he said.
“That’s our future disappearing in front of us.”
Ignoring criminal activities such as LIBOR fraud, take a quick peek at the banking industry and
Credit crisis cost the
nation £7trn, says Bank of England
That's just the UK, worldwide:
Andrew Haldane, the Bank's executive director for financial stability, said that taking into account the permanent damage done to the productive
potential of nations across the world, as well as the immediate costs of supporting the banks and the recession, there is an output loss equivalent to
between $60trn and $200trn for the world economy
Between 60 and 200 trillion and remember at this point how, for example, whispers suggested Spain needed $30b to sort it's banks out. Then later it
increased, then again, then what was it?
Let's just outline that again:
Quite possibly with an interest to overstate the problem:
McAfee estimates that $1 trillion was spent globally on remediation
Quite possibly with an interest to understate the problem:
immediate costs of supporting the banks and the recession, there is an output loss
equivalent to between $60trn and $200trn
And we're fed such loaded toss as this to imply that the working class are responsible for “the greatest transfer of wealth in history.” and need
internet freedoms fencing in. Yea, seems legit