I noticed that yet another library value calculator has appeared on the scene. This one is offered by the National Network of Libraries of Medicine (NNLM) 
with the very best of intentions, I am sure. But, let me say that I am convinced that these calculators are a bad idea. Their underlying assumptions are weak and their designs are not well thought out. Eventually, library funders and stakeholders are going to realize that the calculations are superficial and…well…sloppy.
For one thing, sound cost-benefit analysis requires an examination of the full extent of relevant costs and benefits of a given project, program, or service. These quick-and-easy library calculators, however, use average retail prices as proxies for benefits. This oversimplification ignores important sources of library value like… [Read more...]
