Yugoslav-Born Economist: No Legos Under Socialism | Ivan Pongracic
Why do so many young Americans find socialism appealing? What did life under “kinder, gentler” socialism in Yugoslavia actually look like? And what do economics, surf rock, and the laws of nature have in common?
Uncover these questions and much more in our latest episode of The Larry Arnn Show, where Hillsdale College President Larry P. Arnn interviews Ivan Pongracic, professor of economics and William E. Hibbs/Ludwig von Mises chair of economics at Hillsdale College.
The two discuss Ivan’s childhood in Tito’s Yugoslavia, his father’s path from reading National Review in Europe to studying under Russell Kirk, his career as a surf rock guitarist, and why so many young people are attracted to democratic socialism.
This interview was conducted on October 8th, 2026.
Discover more at podcast.hillsdale.edu.
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0:00 Why Are Young Americans Drawn to Socialism? (Preview)
1:27 Meet Ivan Pongracic: Hillsdale Economist and Surf Guitarist
2:41 Growing Up in Tito’s Yugoslavia: Life Under Socialism
4:41 How Russell Kirk and National Review Changed His Family
7:17 Does Democratic Socialism Work? Yugoslavia’s Failed Experiment
13:05 Why Markets Beat Socialism: Competition & Human Nature
17:34 Socialized Medicine Horror Stories and Euthanasia in Canada
26:08 Emigrating to America
33:08 Aerospace Engineering and the Laws of Nature
36:47 Surf Guitar, The Shadows and the Laws of Harmony
44:16 Why Socialism Ignores Human Nature
50:32 Escaping Communism: Why Yugoslav Youth Wanted Western Freedom
55:52 Why Is Socialism Rising Among Young Americans Today?
57:58 Mises, Hayek and Friedman: Austrian Economics and Inflation
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Hillsdale College is an independent institution of higher learning founded in 1844 by men and women “grateful to God for the inestimable blessings” resulting from civil and religious liberty and “believing that the diffusion of learning is essential to the perpetuity of these blessings.” It pursues the stated object of the founders: “to furnish all persons who wish, irrespective of nation, color, or sex, a literary, scientific, [and] theological education” outstanding among American colleges “and to combine with this such moral and social instruction as will best develop the minds and improve the hearts of its pupils.” As a nonsectarian Christian institution, Hillsdale College maintains “by precept and example” the immemorial teachings and practices of the Christian faith.
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By training the young in the liberal arts, Hillsdale College prepares students to become leaders worthy of that legacy. By encouraging the scholarship of its faculty, it contributes to the preservation of that legacy for future generations. By publicly defending that legacy, it enlists the aid of other friends of free civilization and thus secures the conditions of its own survival and independence.