The proof is in the pudding; what have the conservatives accomplished in the last 75 years besides slow down the ride toward serfdom? On the main point of this thesis Hayek is 100% correct. History has proven it.
As for the minor point, raised by TJ, on what to call proponents of liberty, I, like Hayek, am not satisfied with the most popular current term, libertarian, I prefer describing myself as a classical liberal. Like Hayek, I often use the term libertarian because most people, who are not total ignoramouses, somewhat understand the term. When you state you are any kind of liberal most people think you are a damn socialist. Sadly, people are really stupid nowadays, no longer do books by economists make the best seller lists. People prefer the sophomoric crapola of Hannity, Limbaugh or Franken.
I suggest people turn off talk radio and read three books. "The Road to Serfdom" by Hayek, "Free to Choose" by Milton Friedman, and "The Affluent Society" By J.K. Galbraith. The first two are by classical liberals the third by a devout Keynesian, then you will at least understand the economic arguments between the two main schools of economics in the Western world.
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I'll have to read "The Constitution of Liberty".