"Hayek gave a series of several lectures at the conference during which he sketched out most of the ideas that were later to appear in his treatise The Constitution of Liberty (1960). He must have already had a quasi-finished draft of this book in hand, since, as I recall, the arguments were well developed. Most of the ideas were, as expected, quite congenial to me, but I recall thinking that Hayek was analytically wrong in his discussion of equal pay for equal work, and that, normatively, I rejected his argument in support of proportional rather than progressive income taxation. On the latter point, the influence of Henry Simons was still too fresh for me to appreciate the political implications of progression, which Hayek may have sensed although they did not appear directly in his discussion. At the time, I was only beginning to escape from the orthodox mindset and to begin to look at politics realistically. In retrospect, what seems most interesting to me about the Wabash lectures is that we judged Professor Hayek as a senior scholar who was presenting to us the well-reasoned product of a life's work. Little did we dream that there were major new and quite different Hayek contributions ahead, and that Hayek would develop ideas that he surely did not sense at all at the time."