The Economic Effects of SOPA/PIPA
Yes, I’m jumping on the bandwagon today. I’m usually not the type to do that, but I feel like this topic is way too important to overlook. Yesterday, if you used sites like Google and Wikipedia, they were involved in what
What are SOPA/PIPA? The Stop Online Piracy Act (SOPA) is currently moving through Congress, and the Protect Intellectual Property Act (PIPA) is moving through the Senate. These acts have the intent of stopping internet piracy, but the execution is faulty. Search engines like Google could be negatively effected if someone’s search brings up a “blacklisted” site as a result.
Wait, they’re blacklisting stuff? Yes, if the bill passes. But what about free speech? What about the internet being somewhere that people can get information about anything that they can imagine? This is the big problem. The bill takes on a “prevent now, ask later” role; blacklisting websites based on complaints and then investigating those complaints later on.
So, this begs the question. Why do people on a blog about money care about this at all? The biggest reason. E-Commerce.
You see, our world is driven by technology, which makes our economy dependent upon it. If the internet starts to be restricted, then the economy will start to suffer. People won’t be able to find what they need as easily as they once could. Information has become a driving force in our culture, and not having access to that could be detrimental to our world and, in turn, our economy.
Part of the bill would require websites to allow internet service providers (ISP’s) to track customer’s internet usage. This would then allow a gap in the security systems of most websites. So, imagine the implications of this. Banks would not be able to have the same security to keep your account information safe. Online transactions could not direct you to secure websites because ISP’s wouldn’t be able to regulate them.
Wouldn’t you be afraid to check your accounts online if this regulation occurs? I know that I would be a lot more hesitant to buy stuff on Amazon and other websites where I would have to put in any personal information. I would be hesitant to game online anymore, my passwords wouldn’t be safe. I’d want to use a drastically different password for every website I use. I’d be paranoid about how I used my time online.
Now imagine hundreds of thousands of people just like me. What would happen? In short, the passing of this bill would be incredibly devastating to an already struggling world economy.
You have a voice. If this bothers you as much as it bothers me, speak out against it. Contact your local Congressman or Senator and tell them how you feel. They will listen, especially because it’s an election year and many of them are running for reelection.
What are your thoughts on the whole thing? Leave me some comments, start a conversation. I want to know what you think about this whole thing, too. And until tomorrow, spend smart, save smart!
