Although Hayek ascribed a primarily monetary source to economic fluctuations, he was not a monetarist as this term came to be used. - Alan O. Ebenstein

Hayek never really departed from the essential economic theory that he developed during the 1920s, although he expanded and deepened his analysis.

Keynes ultimately placed his hopes for good government in exceptional men. The focus in Hayek’s work was rules.

Both Hayek and Locke thought that this is best achieved by limiting government’s potential actions and restricting these potential actions to known general rules applicable to all. Both sought a government of rules rather than commands, the latter of which, by their nature, are not known in advance and may be arbitrary—not applicable to all. Hayek’s goal was the society of law.