I recently saw a poster in the library that stated that for every dollar invested into libraries, 4 dollars is generated in social and economic benefits. How is something like this calculated?
In: Economics
You get a $5 allowance and you really like to read Dr. Seuss. You see Green Eggs and Ham in the store and beg your parents for it. They say you have Green Eggs and Ham at home so you use your allowance to buy a candy bar and bouncy toy. When you get back home, you see the book in your room’s bookshelf and read it while playing with your bouncy toy.
Not needing to pay to access a resource means that money can be used elsewhere. In addition, if it’s resources that are used for education, they can calculate the benefit that education offers to the economy along with the expense paid into it. They can note if library resources were a major part of the tuition.
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