Hayek’s view was that all the knowledge that is possible of a circumstance is a theory of the circumstance—that is, there is no such thing as pure se… - Alan O. Ebenstein

At the same time, as Hayek maintained elsewhere, the facts of the social sciences do not lend themselves to the same degree of prediction, or explanation, as the facts of the natural sciences—it is for this reason that there are degrees of prediction or explanation. Prediction may be expressed numerically, moreover, “not as a unique value or magnitude but as a range,” narrow in the natural sciences and potentially very broad in the social sciences. In the social sciences, Hayek modified the conception of a numerical range to a “range of phenomena to expect.” This was his concept of pattern prediction, or explanation of the principle, broad, general predictions.

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.

True and false individualism differ, according to Hayek, not primarily about values but about facts. The question of how societies are actually ordered or organized separates them: Are communities created, or do they evolve? The answer is obviously some combination of the two, but the relative weighting is of the greatest importance.