Amazing Statistic of the Day.
The American prison system is massive. So massive that its estimated turnover of $74 billion eclipses the GDP of 133 nations. What is perhaps most unsettling about this fun fact is that it is the American taxpayer who foots the bill, and is increasingly padding the pockets of publicly traded corporations like Corrections Corporation of America and GEO Group. Combined both companies generated over $2.53 billion in revenue in 2012, and represent more than half of the private prison business. So what exactly makes the business of incarcerating Americans so lucrative?
The American Prison System
Most of it has to do with the way the American legal system works, and how it has changed over the last 40 years. In the 1970’s, lawmakers were dealing with a nationwide rash…
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