Are privately operated prisons efficient or inefficient? Give an explanation of your answer based on economics.

Expert Solution

A private prison is a detention facility run by a corporation under contract with the federal or state government. The company which runs the prison is paid to house the prisoners by the government. Private companies can take over an existing government-run jail, or they can create a new facility that will act as a private prison.

The key advantage planned for private prisons is for the government to save money by putting inmates in contract facilities. The company is responsible for the funds needed to save the government money for daily operations, hiring, defense, meals etc. The sum the government has paid to the private prison for holding the prisoners is thought to be much less than running a whole jail.

Prison overcrowding is another important factor that has contributed to the use of private prisons. Usually, contract facilities will hold more prisoners, thus reducing overcrowding in existing, government-operated prisons. The government will also save money on running expenses by reducing the population of traditional jails, which allow less personnel which resources to operate the jail.

Private prisons will employ a full workforce to operate the jail, including guards, chefs, doctors and nurses, clerks in procurement, administrative assistance, etc. This generates multiple opportunities for the community and helps the local economy, which is an benefit of private prison operations.

Rahul Sunny answered 8 months ago

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