What happens when economic expertise meets political upheaval?

In this episode of Conversation Changers, Nobel Prize–winning economist Eric Maskin sits down with Salzburg Global CEO & President, Martin Weiss, to reflect on how receiving the Nobel Prize expanded his public role at a time when expertise, science, and democratic institutions are increasingly under pressure. Trained as a mathematician and now a leading voice in game theory and voting systems, Maskin discusses why engaging beyond the classroom has become essential — and why science, by its very nature, must remain open, tentative, and evidence-driven.

The conversation ranges widely, from the promise and backlash surrounding vaccines to the shifting trajectory of China’s economy under Xi Jinping. Maskin explores how China’s earlier market liberalization has slowed, the role individual leaders play in shaping history, and why exposure to Western education continues to influence China’s scientific and economic elites.

Turning to the United States, Maskin offers a firsthand perspective on growing tensions between elite universities and political power, including the mounting pressure on Harvard and what it means for academic freedom. He also delivers a clear-eyed critique of tariffs, arguing that they function as a tax on consumers, undermine global cooperation, and risk destabilizing the post-war economic order that has underpinned decades of relative peace.

Finally, Maskin challenges listeners to rethink how societies respond to globalization and automation. Rather than retreating behind trade barriers, he argues, the real solution lies in investing in training, adaptation, and opportunity — changing the conversation from protection to progress.

A wide-ranging and timely discussion on economics, democracy, and why individuals still matter in shaping our collective future.

(Editors Note: This episode was recorded in August 2025)

Chapters:

00:00 The Role of Experts in Society

02:58 Eric Maskin: A Nobel Laureate's Journey

06:08 The Importance of Science and Public Trust

08:51 China's Economic Model: Successes and Challenges

11:53 The Impact of Xi Jinping on China's Future

14:54 The Human Element in History and Leadership

17:53 The Current State of American Universities

21:08 Tariffs and Their Economic Implications

26:58 Changing the Conversation: Solutions for the Future

About Eric Maskin:

Eric Maskin was born in New York City, but grew up in New Jersey. Maskin studied mathematics at Harvard University under Laureate in Economic Sciences Kenneth Arrow. He taught economics at the Massachusetts Institute of Technology (MIT) 1977-1984, after which he went on to become a professor at Harvard and subsequently Princeton University. He returned to Harvard in 2011.

Eric Maskin has worked in diverse areas of economic theory. He received the Nobel Prize for his work on mechanism design theory, a specialized form of game theory that attempts to maximize gain for all parties within markets. Maskin and fellow laureate Roger Myerson built on the mechanism design work of Leonid Hurwicz, who was the pioneer in the field.

Find out more about Eric Maskin here: https://maskin.scholars.harvard.edu/

Follow Martin Weiss here: https://www.linkedin.com/in/martin-weiss-ba264424a/

Find out more about Salzburg Global here: https://www.salzburgglobal.org/