Capitalism drives America’s economy. It relies on the ambitions, dreams, and hard work of its citizens in the free market. Capitalism gives the individual an incentive to work hard because of private ownership. But how far can capitalism be implemented?
In the United States, the number of private prisons have increased over the past few decades:
“Nationally,” Ms Khimm notes, “there’s been a similar surge in private prison construction as the inmate population has tripled between 1987 and 2007: Inmates in private prisons now account for 9% of the total US prison population, up from 6% in 2000.”
Private prisons have increased because they provide relief to the public correctional facilities. In states like California, where it costs as much $47,000 per year in upkeep per prisoner every year, private prisons can save the taxpayers as much as $120 million dollars a year according to a research conducted by Reason Foundation-Howard Jarvis Taxpayers Foundation.
Personally, I think it is an interesting ethical situation anytime the law is put into private hands. In 2010, the largest private prison company, Corrections Corporation of America (CCA), made $1.7 billion in revenue. With so much money on the table, it is a little concerning when there are stories of private prisons failing because they did not secure contracts for inmates with the state or federal governments. How much of an influence might private prisons have on the government and law?