Private Prison Management: A Study in Economic Efficiency

Abstract

The American correctional system is beset by a number of serious difficulties. Dramatic increases in prison popu lations over the past decade have produced serious prison crowding and enormous increases in the cost of operating the correctional system. This paper examines the value of the private sector in meeting correctional needs in a cost- efficient fashion. Data are presented which indicate that private sector involvement in corrections can result in significant cost savings.