This discussion of ethical issues in collection development and acquisition librarianship in difficult economic times develops theoretical concepts rather than case study examples as a means to clarify the issues. Four areas are identified where value judgments are necessary to inform practice and provide a framework for ethical behavior. These areas are honesty, professional integrity, business practice and respect for people and organizations. The concept of untested virtue is explored as a means to inform the definition of ethical behavior under both good and bad economic conditions.
