The connecting of physical units, such as thermostats, medical devices and self-driving vehicles, to the Internet is happening very quickly and will most likely continue to increase exponentially for some time to come. Valid concerns about security, safety and privacy do not appear to be hampering this rapid growth of the so-called Internet of Things (IoT).There have been many popular and technical publications by those in software engineering, cyber security and systems safety describing issues and proposing various "fixes." In simple terms, they address the "why" and the "what" of IoT security, safety and privacy, but not the "how."There are many cultural and economic reasons why security and privacy concerns are relegated to lower priorities. Also, when many systems are interconnected, the overall security, safety and privacy of the resulting systems of systems generally have not been fully considered and addressed. In order to arrive at an effective enforcement regime, we will examine the costs of implementing suitable security, safety and privacy and the economic consequences of failing to do so.We evaluated current business, professional and government structures and practices for achieving better IoT security, safety and privacy, and found them lacking. Consequently, we proposed a structure for ensuring that appropriate security, safety and privacy are built into systems from the outset. Within such a structure, enforcement can be achieved by incentives on one hand and penalties on the other. Determining the structures and rules necessary to optimize the mix of penalties and incentives is a major goal of this paper.