Definition from Wiktionary, the free dictionary
From penny-wise and pound-foolish (“thrifty in the small and wasteful in the large”).
- Being unwise in dealing with large amounts of money.
1976, MI Roemer, “Response to MK Chen”, in Medical Care:
- Accordingly, by Dr. Chen's method of calculation, the copayment experience would have to be deemed even more pound-foolish than we found it to be.
being unwise in dealing with large amounts of money