Hayek’s determination that the society should dissolve was the product of a peculiar combination of triumphalism and despair. It was motivated in part by his belief that an encouraging po liti cal environment and an increasing mutual awareness among freemarket economists diminished the need for regular meetings. In this sense, the society’s raison d’être was the victim of its unexpected and premature success. Any satisfaction derived from these victories was tempered, however, by his frustration at the continued failure of the society’s internal debates to fulfi ll his original aspirations.

Angus Burgin, The Great Persuasion, loc. 314