The total cost of a 24-hour Internet Failure?

Question

Do you ever turn your computer on and start browsing, networking, or shopping online? Simple clicks, almost effortless! What if one day the whole world wide web crashes,/shuts-down? What would be the economic, social and environmental effects, if any? The total cost behind a ONE day Internet failure? It's interesting how we feel so certain about the internet. Any answers will be highly appreciated.

-Thank you

Answer 1

The University of Texas did a study back in 1998, when they discovered the Internet was  doing 308 billion dollars in business that year.  Since then, the Internet has gotten so complex, that I don't believe anyone could accurately say what the economic affect of a one day blackout.  Consider that the Internet is now the home of on-line banking, on-line stock trading, telephone communication, and countless other layers of economic connection.  Add to that the many billions of dollars of actual commerce that takes place (EBay, Amazon, etc.).

Now, to try to answer the question.  Many things can be delayed a day.  A one day delay in a stock trade, bank transfer, or on-line order, might mean a small loss, but the economic impact would probably be minimal.  People would simply buy the book the next day. The social impact, however, would be much greater.  People not being able to communicate, doctors not getting emails or important IM's, could lead to people actually dieing as a result. Internet monitoring of elderly patients, Internet linked security systems, Internet monitoring of waterways, bridges, roads, traffic signals, and countless other connections we are never told about.  All would have an impact if something failed and the people that were needed to fix it were not contacted.  However, most important systems, have a backup in case of Internet failure. Little parts of the Internet fail all the time.  ISP's go down, routers die, cables fail. Companies and public services already deal with Internet service interruptions.  Most of them could handle one day without much trouble.