Given the risk of corruption, bureaucratic ineptitude, etc., I’ve long said that privatization is best for highly visible assets and services the general public sees and users versus things that are out of sight out of mind. This turns the public into an accountability layer and increases the political risk of privatization, making it more likely the politicians will stay on top of things.
Garbage collection, airports, roads and bridges, a parks conservancy, etc. – all of these are highly visible. The public will see and squawk if something goes wrong.
Prisons are about as far from this as you can possibly get.
