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“State prisons have a 96% occupancy rate, while federal prisons are at almost 140% of capacity. And the prison population [is] growing at 5% annually. The market potential also remains huge, with only 8% of prisons privatized so far.”

The only possible downside they note is the potential for legalization of marijuana.

Mark A.R. Kleiman has an excellent OpEd in The American Interest: Triage in the Drug War

In particular, Kleiman’s analysis of the falsehoods and fallacies of the drug war really hits the mark.

Certainly, he has a more optimistic view of the potential uses of prohibition in certain circumstances than I, but in an article […]