Killing the Goose That Laid the Golden Eggs

Most people have heard the expression, "killing theessential products and American foreign policy has
goose that laid the golden eggs," but many cannotdenigrated many of these same nations for ages.
recite the complete story. It goes like this:Because of this denigration, the peoples of these
A poor farmer one day discovers a glitteringnations hold no affection for the United States.
golden egg in the nest of his pet goose. At firstSome economists, domestic and foreign, believe
he thinks it must be some kind of trick. But as hethat America is sliding from great power to
starts to throw the egg aside, he has secondthird-world status. And it is not difficult to see
thoughts and takes it to an appraiser. The egg iswhy.
pure gold. The farmer can't believe his goodIt takes no great smarts to realize that for
fortune and becomes even more incredulous thebusinesses to prosper, their products and services
following day when he discovers another goldenmust be sold. But an impoverished people cannot
egg. Day after day, upon awakening, he rushes tobe prolific consumers, regardless of how cheap
the nest to find another golden egg. He becomesproducts and services are priced. So just as
fabulously wealthy. It all seems too good to begovernments can be likened to the goose and the
true.business community to the farmer, the consumer
But with his increasing wealth comes greed andbecomes the golden egg, and when he becomes
impatience. Unable to wait day after day for thethe victim of a flawed business model, no more
golden eggs, the farmer decides to kill the goosegolden eggs will be forthcoming.
and get all the eggs at once. But when he opensBut why should the mavens of business care? In
the goose, he finds it empty. There are no goldenthe meantime, they have become fabulously
eggs and now there is no way to get any more.wealthy. Why should Bill Gates or any of his ilk
The farmer has killed the goose that laid them.care if America collapses into third-world status?
But there is another chapter to this story thatIf any of their companies go bust tomorrow,
goes untold.they suffer no severe economic consequences.
Although the farmer rues his decision to kill theThey can shrug their shoulders as they walk
goose, he realizes that it is no grave misfortune.away. Fortune magazine has just published a list
After all, he has become fabulously wealthy; he isof America's worst performing CEOs. They are
no longer a poor dirt farmer. His financial future isalso some of the wealthiest.
assured. Although there will be no more goldenOf course, this consequence is not new; it has
eggs, there will also be no more poverty. Killinghappened before, and Americans, at least, were
the goose, while unfortunate, does not entail awarned about how business practices bring this
financial crisis. He will be okay.consequence about by Thomas Jefferson who
This mythical fowl tail describes America's currentwrote, "Merchants have no country. The mere
economy perfectly. Governments, both state andspot they stand on does not constitute so strong
federal, have become a goose that lays goldenan attachment as that from which they draw
eggs for America's business community. Ourtheir gains."
governments have allowed that community toOn January 17, 1925, when President Calvin
decrease the wages of workers, eliminateCoolidge told an audience of newspaper editors
relatively high-paying jobs by transferring them tothat “The business of America is
foreign nations where wages are considerablybusiness” he made popular a legal form of
lower, and create an ever growing income gaptreason that Americans have suffered under ever
between workers and corporate officers. Thesesince. Our business community not only continues
corporate officers have become the mythicalto prove that it can’t govern itself effectively
farmer, and their greed is killing the goose.but that a free market economy is a destructive
America has become the greatest debtor nationmyth.
in history. It's now relies on foreign nations for