When Hayek’s economics essentially failed, he turned to a different program: social and political theorising.While Hayek's economics may have failed his own expectations, his social and political theorizing lead to the dominant contemporary narrative, likely wildly beyond his expectations. It was an idea whose time was right, even though it was not a right idea. Now we are experiencing it's failure.
Social Democracy for the 21st Century
Philip Pilkington on Hayek and the Origins of Neoliberalism