Lord Keynes — Hayek the Evil Inflationist!

So Hayek, after all his attacks on Keynes in the 1930s, essentially admitted Keynes was right, at least on these points at any rate.

Social Democracy For The 21St Century: A Post Keynesian Perspective
Hayek the Evil Inflationist!
Lord Keynes

Of course, this doesn't imply that Hayek became a Keynesian.

I still believe that we shall not get a functioning economy until wages again become flexible, but I think that we shall have to find different techniques for that purpose. I would no longer maintain, as I did in the early ’30s, that for this reason, and for this reason only, a short period of deflation might be desirable. Today I believe that deflation has no recognisable function whatever, and that there is no justification for supporting or permitting a process of deflation.” (Hayek 1975: 4–5).

Hayek still believed that wage suppression flexibility was the answer rather than addressing unemployment through the demand channel.

Also Magliulo on “Hayek and the Great Depression of 1929”