[lbo-talk] "Who said crime doesn't pay?"

Itamar Turner-Trauring (aka Shtull-Trauring) itamar at itamarst.org
Wed Oct 21 06:52:57 PDT 2009


On Tue, 2009-10-20 at 21:09 -0700, Joanna wrote:


> So far, the only economic mag I can parse is Barron's. It lacks any
> attempt at political analysis, but often has interesting interviews with
> fund managers etc. And it's much easier reading between their lines
> because they're fairly straightforward.

For example, the idea that private prisons are a great business because you can can be certain the prisoners won't be rehabilitated. I'm not certain if the author is horrified or horrific, you can read this as irony or complete lack of logic (e.g. second sentence starting with "Yet") depending on your interpretation:

A LONG STAY IN PRISON, according to an industry joke, cures very

little except heterosexuality. Yet our prison population has

more than tripled over the past quarter-century, jumping from

roughly 700,000 in 1984 to 2.38 million this year, the fastest

pace of any country on earth.

Proponents say that incarceration protects society from

dangerous offenders, acts as a deterrent and allows

re-education, thus fulfilling the criminal justice system's

three main goals of prevention, punishment and rehabilitation.

As a result, our federal prisons are at 137% of capacity, and

state jails have shot past 110%. (It should be noted that prison

populations of some nations, such as China, are held somewhat in

check by the government's willingness to execute people for

crimes that would rate only a prison term stateside.)

http://online.barrons.com/article/SB125574536753691649.html?mod=article-outset-box



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