Sustainable Investments in Criminal Justice Reform to Save Billions
Criminal justice reform initiatives are aimed at fighting to reduce mass incarceration and the suffering incarceration has on populations. An article published by Forbes talks about improving the lives of millions and saving money by investing in criminal justice reform. According to the article, 6% of GDP ($1.2 trillion) goes to the direct cost of incarceration. They focus on bringing attention to the sustainable movements that hopefully will lower this number.
There are many different parties involved with prisons and the care of prisons. Forbes brought attention to the statistics that roughly 4,000 companies profit off of incarceration, whether that be through investments or initiatives through the prison systems. Many companies profit off of bails and incarceration or post-incarceration fees. Some Fortune 500 companies have even been known to make a profit off prison labor, opposed to the inmates. As this helps these companies, it is detrimental to prisoners and the prison system in general. Money is being taken out of the prison system to pay companies.
Another dilemma faced is prison exclusion versus engagement. Strategic engagement with publicly traded companies includes anything from meetings to shareholder investments. Private prison operators usually hold the responsibility of working with companies like this to make a profit or provide services to stand out. All of these are based on social factors, that in the end if improving the criminal justice system were to prevail, would result in major societal benefits. The prisoners and former prisoners would be able to have more rewarding lives and the government would save billions that goes towards incarceration.