Tuesday, June 4, 2013

Golden Eggs / ROI



Caution, public policy rant ahead...

In Aesop’s fable about the goose who laid the golden eggs, a domestic bird has the happy ability to lay one golden egg each day.  Greedy humans, however, decide that there must be a supply of gold inside the bird, and kill it, only to find it is quite ordinary within.   

This lesson, that overreaching for riches may end a perfectly good situation, is a truism in our culture.  However, there may be another lesson that Aesop’s prodigious bird can help us learn.

Consider the opposite extreme, if you will.  Motivated by whatever interesting calculus of profitability or efficiency, what happens when the farmer and his wife decide to reduce their feeding of the goose, to cut costs and thereby maximize the return they get from the golden eggs?

This is a current trend in higher education that bears stronger examination.  If we starve the goose beyond its ability to thrive or survive, will it continue to deliver the eggs?  What is the reasonable level of investment in higher education that will result in the desired beneficial outcomes to the individuals involved, and to the larger society?  

It will perhaps be difficult to realize a return on an investment that we have not made in the future prospects of our fellow citizens.