Economics of Prisons

08/09/2005 at 9:00 a.m.

The prison system incarcerates more than two million Americans. The cost per inmate is close to $20,000, paid for by taxpayers. So what are we getting for our money? What is the goal of the prison system? How has it changed over time? What communities are hit the hardest, and how do these communities adapt when a chunk of their working population is locked up? What economic opportunities are available once inmates are released from prison?

Guests:
Alex Tabarrok research director for The Independent Institute and editor of the book Changing the Guard: Private Prisons and the Control of Crime
David Weiman professor in the Department of Economics at Barnard College within Columbia University and editor of the book Imprisoning America: The Social Effects of Mass Incarceration
Larry Fehr senior vice president of correctional programs, Pioneer Human Services. He is also on the faculty of University of Washington's Laws, Society, and Justice Program