This point of view seems ignorant of history and human nature. For example, after slavery was abolished in the south, prison wardens realized they could just rent out their prisoners to former slave owners to make some extra cash. In support of this, the state governments came up with all kinds of nonsense like truancy laws so they could put black people in jail for any reason, even being unemployed. They just made them slaves again, legally.

Using prisoners for profit means there is profit in imprisoning more people.