Economic Analysis of Penitentiary Policy - A Proposal for a Private Penitentiary System

Abstract

This paper makes an economic legal analysis of the resources of the Prison Policy in Ecuador; they develop themes from the Ecuadorian penitentiary history and its institutional values, to the approach of privatization of the prison system to reduce maintenance costs of prisons. Common good policy to try to reduce maintenance costs of persons deprived of liberty, however, cost reduction invol-ves improving the quality of life of inmates; seeks the common good economic benefit and well-being of a whole society. Therefore, the prison policy in Ecuador must change its system in order to maximize benefits at lower costs.

KEYWORDS: prison policy, common benefit, prevention policy, opportunity cost, persons deprived of liberty

JEL CODE / CLASIFICACIÓN JEL: H76, L33