One of the talks I attended at the Alaska version of the OCLC Western Users Group Meeting was Econ 101, presented by Pamela Bailey.
A few points out of this interesting talk:
Discussions about library economics revolve around:
- Public value versus public good
- Justifying our costs
- Defining our worth
Libraries calculating their return on investment should consider:
- Libraries as community builders
- Libraries as economic equalizers
- Libraries as economic stimuli
Ms. Bailey recommended several resources for libraries looking at cost-benefit analysis:
- Measuring Your Library’s Value
- Seattle Public Library Economic Impact
- Various Library Use Value Calculators
- Telling Your Story
And finally, Ms. Bailey offered a non-economic “Ultimate Question” about how to evaluate libraries:
How likely is it that you would recommend us to a friend or colleague?
How would your library do?
