The Economics of the Prison Industrial Complex

The video explores the economic aspects of incarceration, highlighting the high costs of maintaining prisons and the opportunity costs involved. It discusses the economic impact of crime, including costs in anticipation, consequence, and response to crime. The video also examines the role of prison labor, its benefits, and its drawbacks, particularly its impact on the labor market. The discussion concludes with a consideration of the moral implications of the prison system and its economic effects on society.

What is the primary focus of the video regarding the prison system?

• The economics of the prison system

• Rehabilitation programs in prisons

• Moral arguments against incarceration

• The history of prisons

How much does it cost the average New York taxpayer annually to maintain the state's prison system?

• $500

• $3000

• $2000

• $1000

Which of the following is NOT a category of crime-related costs discussed in the video?

• Costs in anticipation of crime

• Costs of rehabilitation programs

• Costs as a consequence of crime

• Costs in response to crime

What is the estimated total cost of crime in the USA as mentioned in the video?

• $500 billion

• $690 billion

• $1 trillion

• $800 billion

Which of the following is a consequence of crime that incurs costs?

• Higher education rates

• Improved public health

• Property damage

• Increased tourism

What is one of the benefits of prison labor mentioned in the video?

• It provides vocational training to inmates

• It eliminates the need for external labor

• It reduces the cost of incarceration significantly

• It increases the prison population

What is a major issue with prison labor according to the video?

• It only involves high-skilled jobs

• It displaces regular workers

• It is too expensive for private companies

• It is not profitable for prisons

What is a potential positive externality of the prison system mentioned in the video?

• Increased crime rates

• Vocational training for inmates

• Higher taxes

• More expensive hotels

What is the title of the book mentioned that discusses the feedback loop of incarceration and poverty?

• Prison Labor and the Economy

• Incarceration and Society

• The Rich Get Richer and the Poor Get Prison

• The Economics of Crime

What is the suggested approach to addressing the cost of crime in the video?

• Eliminating prison labor

• Reducing taxes

• Treating it like a transaction

• Increasing prison sentences