Private Corrections, Financial Infrastructure, and Transportation: The New Geo-Economy of Shipping Prisoners
A study was conducted to examine the flow of capital that supports the economic infrastructure necessary for the expansion of privatized prisons. Data were obtained from the Disclosure database, which extracts information from the Securities and Exchange Commission, and from the Web sites of several...
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| Format: | Electronic Article |
| Language: | English |
| Published: |
2007
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| In: |
Social justice
Year: 2007, Volume: 34, Issue: 3/4, Pages: 56-77 |
| Online Access: |
Volltext (Publisher) |
| Journals Online & Print: | Drawer...
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| Check availability: | HBZ Gateway |
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| Summary: | A study was conducted to examine the flow of capital that supports the economic infrastructure necessary for the expansion of privatized prisons. Data were obtained from the Disclosure database, which extracts information from the Securities and Exchange Commission, and from the Web sites of several private corrections companies. Findings revealed that private correctional firms can access significant capital support from bigger companies and financial institutions, and that even before private prison companies demonstrate much of a track record in the area of financial performance, they can rely on the assistance of major national and regional underwriters and lenders to help them generate substantial amounts of money in the equity and debt markets. Findings also revealed that corporate actors in the private prison industry lobby government officials for lengthier sentences and the transfer of prisoners to private prisons. Findings are discussed in detail. |
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| ISSN: | 2327-641X |