Law, Legislation and Liberty was written and published during a different period from The Constitution of Liberty. The earlier work was a product of … - Alan O. Ebenstein

The time component of economic production became vital in Hayek’s work in economic theory. Essentially, his economic work could be said to rest on the idea that the price system is a method for coordinating economic activity through time.

Hayek’s work in philosophy can be considered from another perspective than its methodology. When Hayek wrote that his philosophical studies should precede his political studies, he meant that in order to explain the sort of political system he favored, it was necessary to have greater understanding of the transmission and communication of information and knowledge. This is why he wished to travel to Italy and Greece. He thought that he might understand nonverbal knowledge better in doing so and might better understand the role of institutions in transmitting knowledge and information.

Hayek, highly influenced by Mach as a young man, began reading him immediately following his return from service in World War I. He remarked about four decades later that he was “stimulated by Mach’s work to study psychology and the physiology of the senses,” though his interest in these areas derived as much from disagreement as agreement with Mach’s work.