"Hayek’s move from economic theory to political philosophy was a natural evolution in his ideas. First, he considered the influence of prices in production.Then he considered the larger question of the role of prices in social life. The conclusion he reached was that law should guarantee to each person a protected sphere within which each could live as much as possible as he pleased. Later in his career, he progressed to the idea that whole societies through their customs, morals, and rules are engaged in macrocompetition, the survivor of which would possess the customs, morals, and rules that are the most materially productive and result in the highest standard of living for the most—the economist’s goal."

“Placement of both Hayek and Mill in the liberal tradition is suspect to many historians of political thought for various reasons. First, Mill also expressed socialist sentiments, so to classify him as a liberal has seemed inaccurate to some more right-inclined liberals. Second, Hayek is sometimes considered more a conservative by left-inclined liberals, and not in the liberal tradition as it has evolved. Nonetheless, Mill and Hayek were the two greatest liberals of the nineteenth and twentieth centuries.”

“Hayek expressed the greatest praise for Popper. Whether this was Hayek’s ultimate view or a reflection of a deep, though subordinate, strain of personal modesty and humility that ran through him is an open question. Hayek’s support was vital in Popper’s career. During the late 1970s and early 1980s, Hayek was involved with an unsuccessful effort to obtain the Nobel Prize in Literature for Popper.”

“Hayek’s approach was largely Burkean. He saw much good in inherited institutions, and yet, at the same time, he also saw the desirability and necessity of change.”

“The history of the Austrian school remains unfinished, and what happens in the future may influence interpretations of the past as much as what has already occurred. An increasing number of economists, however, believe that a reconceptualization of the role the Austrian school has played in academic economics from the 1870s to the present would be more accurate than the prevailing view.”

“The core ideas in Hayek’s metaphysical and methodological thought were, in the former, that reality is complex; and in the latter, that there should be some empirical corroboration for statements about events in the realm of nature.”

“Hayek had high regard for Marx in technical economic theory and considered him a predecessor in his business cycle theory. It was not in technical economic theory that the classical Austrians disagreed with Marx. So towering a figure in history is Marx that discussion of his thought in summary form is always difficult, for there is so much that he said and that others have said about him. At the same time, so tendentious, ill-spirited, and just plain wrong a thinker was Marx that it is surprising that he may have had some of the influence attributed to him. Hayek’s opposition to Marx was in the realm of practical political emanations from Marx’s thought. Here he considered Marx’s influence to have been wholly pernicious.”