Briefly Describe the History of American Correctional Theory

question 15

Essay

Briefly describe the history of American correctional theory. How did rehabilitation become a possibility in corrections and why was it later attacked?

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Definitions:

Sensitivity Analysis

A technique used in financial modeling to determine how different values of an independent variable affect a particular dependent variable under a given set of assumptions.

Residual Value

The estimated value of a fixed asset at the end of its useful life, important for calculating depreciation.

Net Present Value

The difference between the present value of cash inflows and the present value of cash outflows over a period of time.

Cash Payback Period

The duration it takes for a project or investment to repay its initial cost from the cash inflows it generates.