In "The Price of Inequality," economist Joseph E. Stiglitz argues that maintaining a large prison population, currently at 2.3 million in the U.S., comes with significant financial burdens. He highlights the various costs associated with imprisonment, including housing, healthcare, and security, which cumulatively strain public resources and divert funding from essential social services.

Stiglitz emphasizes that this extensive penal system is not only a financial concern but also reflects deeper societal inequalities. The author suggests that investing in preventive measures and rehabilitation would be more beneficial for society, ultimately leading to a reduction in crime and a more equitable distribution of resources.