More about tensions within liberalism than just about Hayek. Good introduction to the basic issues and challenges in political economy as a combination of philosophy, law, political science, sociology, etc., with economics.
Economic (classical) liberalism and social liberalism (utilitarianism) are antithetical, that is, neoliberal and anarcho-capitalism are incompatible with social democracy, e.g., owing to conflicting rights such as the property rights with the right to life and liberty. In one view, property rights prevail and in another, property is subservient to people (the general welfare) and the environment (externalities).
The modern compromise is republics that are dominated by the haute bourgeoisie rather than the landed aristocracy as it feudalism. The result is inequality of income and wealth owing to the institutional arrangements rather than just deserts or merit, as claimed. Thus the need for accommodation to avoid social unrest and political turmoil. The outcome has been mixed economies in which there is a ongoing tension between money and machines, and people and the environment.
Marx and Engels, Lenin, Polyani, Keynes, and Hayek all recognized this as a challenge to the present liberal order and offered different solutions.
