I wouldn't have a problem with PMCs replacing police for pretty much everything but detective work. It would actually give society a lot more leverage over law enforcement and separating after the fact investigation and prosecution from active enforcement would remove a lot of bad incentives from the current system. If the PMCs you've hired to do cop things shoot someone wrongfully you can sue them and not be suing the taxpayer. You can force them to have insurance as part of the contract. You can fail to renew their contract if they screw up. Having a profit motive removes the desire to have unnecessary military hardware for the same reason your local landscaper doesn't own a mining dump truck.
Obviously there's trade-offs but it seems like having privately security instead of cops would be an end run around most of the things that are bad about modern policing.
Like the TSA private partner screening program [0]. They didn't have any staffing issues during the shutdown, because they're not a magic money Government entity. I don't have the source handy, but I believe they're more efficient and do a better job than the TSA at catching contraband.
Yeah but that was in an active warzone where there was little to no retribution for poor behavior. If you have to live next door to the people you police, you're probably going to behave a bit better.
They run prisons, young offenders institutions and offer private security etc.
They are not known for good behaviour though.
They are known for cost-cutting, hiring people with questionable qualifications and experience, sexual assaults on minors and covering up evidence of their own incompetence and malice.
That's what I think of when people suggest privatising law enforcement and military. Greed, malice and power-mongering.
A genuine dystopia, because I don't have the same faith that you do that a profit motive will be anything other than destructive in these spheres.