Economic principles and across‐the‐board cuts

Purpose – The purpose of this paper is to address the irrationality of making budget decisions without awareness of the economic foundation of these decisions. It aims to propose that, in lieu of a universal economic principle, librarians should at least adopt the maxim, “first, do no harm.” Design/methodology/approach – The paper argues the need to review budgetary distribution models in terms of economic principles and the argument incorporates the author's recent implementation of material cuts at his institution. Findings – The paper finds that application of across‐the‐board materials cuts is inequitable and resembles a regressive flat‐tax. Research limitations/implications – The paper argues that sound economic principles are being ignored in budget decision making. Practical implications – Libraries should evaluate the economic principles they apply, especially when they involve distributions of available funds. Originality/value – The paper encourages readers to think about the economic impact of their actions.