A sustainable, peaceful and fair world in which no one is left behind. That is what professor of Urban and Regional Economics at Erasmus School of Economics (ESE) Frank van Oort advocates on 19 May 2025. During the Rotterdamlezing 2025, he will share insights into how he believes economy can contribute to a happier city.
Rotterdam scores poorly on happiness and well-being. Van Oort believes that is a clear signal that something needs to change and that the city needs to invest more in people. 'For a long time, the emphasis was mainly on economic growth and creating employment, with the idea that well-being would automatically follow', he says. But nothing could be further from the truth. 'People with a strong financial position can also feel unsafe and be unhappy or unhealthy.'
Investing in people alone is not enough
Van Oort states that in addition to economic growth, topics such as safety, sustainability and health must also be measured. 'When people become more educated and therefore earn a higher income, they often leave their old neighbourhood. As a result, the same problems continue to occur in vulnerable neighbourhoods.' Investing in people alone is therefore not enough. 'It is crucial to also invest in residential areas, for example by renovating old houses. We need to look more at the long term: a healthy living environment and better facilities in the neighbourhoods ensure that families with a lower income also have a better life.'
The professor argues that economists have paid too little attention to the negative consequences of economic growth so far, such as inequality. An example of this is the arrival of metro line E, which has been running between Rotterdam-Zuid and The Hague since 2011. 'The arrival of this metro line has significantly increased house prices along the railway line', says Van Oort. 'This has created economic value, which mainly benefits homeowners.' People living in rental properties therefore benefit less from this. According to him, this needs to change. 'For example, if extra tax were put on the increased value, that money could be used for new investments in the city. But that is a political choice.'
Are the people of Rotterdam ready for this? 'In times of uncertainty, people often opt for certainty. Such as more money for defense, because that would ensure fewer risks. But safety, health and happiness are also forms of certainty. That realisation needs to grow.' He makes the comparison with the United States. Since Trump has been president there for the second time, the focus has mainly been on economic growth, and according to Van Oort, this has led to more inequality and environmental damage. 'The model we use in Europe offers more room for sustainability and social cohesion', says Van Oort. 'A fair distribution of broad prosperity requires concrete policy choices.'
'I think evolution is more effective than revolution'
Frank van Oort
Hoogleraar Urban and Regional Economics (ESE)
It is complex to find a balance between economic progress and social and ecological interests. 'It makes you think about how we organize our society. Some economists argue for a radical transition, while others argue for a step-by-step approach.' Van Oort remains hopeful: 'I think evolution is more effective than revolution. Yes, changes take time, but every step in the right direction is a gain.'
Rotterdamlezing 2025
The Rotterdamlezing (in Dutch) will take place on Monday 19 May 2025 in Arminius and is free to attend for all interested parties. We do ask you to register in advance via our website. After the lecture you can have a drink, where you can chat with the speaker and the other attendees.
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