The Lively Experiment
Pursuing individual freedom is the reason Rhode Island exists.
On July 8th in 1664, King Charles II wrote the royal charter for what would become the Ocean State. In it, he set forth that this fledgling colony would become “a lively experiment.”
Although those who grow up here learn these words in middle school, it wasn’t until I sat in the First Baptist Church of America (built for a congregation that was started in 1638 by Roger Williams himself) that a light bulb went off.
As students of history, we know now that this “lively experiment” would turn out to be extraordinarily successful, and ultimately set a precedent in America of religious freedom and tolerance.
This openness to self-determination is what made us successful and a place that welcomed newcomers. But over time, we have strayed from what made us great in the first place.
There is perhaps no greater experiment than building something new. Yet, the Providence Business News reports that Rhode Island ranks last in entrepreneurship in the United States.
This is a sobering piece of data, considering new businesses are critical to the growth and resilience of any economic ecosystem.
They create value, facilitate economic velocity, and most importantly give purpose. In a world where many incumbent industries are being revolutionized by increasingly rapid technological advancement, it is vital that we build a future that allows individuals to do what is distinctly human: experiment and create.
Without new companies, we will struggle to create opportunities that attract talent and capital; two pieces central to any economy. We will be at the mercy of late-stage capitalism and see a workforce that is increasingly displaced with nowhere to go. Our tax base will shrink, yet our welfare costs will soar. We saw this happen in 2008, and our prolonged recovery that lagged behind our fellow states.
There is no way to avoid the next recession. After all, our economy has always been one of booms (and busts)
But, there’s a way to avoid another lackluster recovery when the next one hits.
Other cities like ours, Nashville and Austin, for example, had much faster recoveries because they were able to attract investment and retain talent. They did this by creating ecosystems built around innovation (a.k.a. experimenting).
We too can create a resilient ecosystem that is primed for growth, but only if we return to what Rhode Island was established to do: enable people to experiment.
In one of the most famous experiments in the 20th century, two scientists discovered the building blocks of life, what they called amino acids.
Over the past few years, we have been bringing together the right set of amino acids (community and resources), to spark an entrepreneurial revolution right here in Rhode Island.
I have no doubt that we will climb in the Kauffman index referenced in the PBN article if we do these 10 things.
Together we can ensure that Rhode Island becomes the Lively Experiment it was always supposed to be, and bring the spark to ensure these “amino acids” create life.
