pound-foolishnessn.

1582 E. Worsop Discouerie Sundrie Errours Landemeaters sig. K1^v Measurers ignorant of Geometrie make quicker dispatch, then the learned and skilful can: which so pleaseth the ignorant because it diminisheth present charge, that they therefore litle regard him, that maketh true measure, which in troth is penie wisedome, and pound foolishnes.

1823 Mirror Lit., Amusem., & Instr. 11 Jan. 166/2 A collection of penny-wisom at the Paul's Head, Cateaton-street, to reimburse Carlile for his pound-foolishness in Fleet-street.

1860 G. A. Sala Lady Chesterfield's Lett. v. 8 Penny-wisdom, and pound-foolishness are now as prevalent as ever.

1948 Jrnl. Amer. Assoc. Univ. Teachers Insurance 15 60 Paying adequately for skilled management and for professional guidance is most important. There is ‘pound-foolishness’.

1975 Economist 29 Nov. 19 Perhaps £70m a year could be saved by scrapping all the Polaris submarines. This would be a superlative example of pound-foolishness; these ships have at least 10 years of effective life left, and their major costs have already been paid.

1998 Polit. Sci. & Politics 31 774/2 This pecuniary assault may save a paltry few tens of millions each year, but its penny-wisdom is far outweighed by its pound-foolishness.

2010 M. Gaudry in P. Forsyth et al. Airport Competition xiii. 213 In addition to such pound foolishness, such studies simultaneously practise theoretical penny wisdom by imposing substitution between the own flow of interest and all others.