I wrote a review on Amazon that you can read there for more details, but in short: this book describes the themes that interested Hayek, their historical context, and how attitudes to them evolved.
I consider myself "left wing" and Hayek is no great hero of mine (when I read the book I was barely aware of him - I think he is more famous in the USA than Europe), but that doesn't stop this being one of my favourite books. The range covered is huge, the historical background of the times is fascinating, and Hayek is a much more complex thinker than you might imagine from the way he is treated in current popular culture.
Vaguely related, "Machine Dreams" by Mirowski is another absorbing, thought-provoking book on the history of Economics (simplifying hugely - the influence of the cold war on the rise of "free market economics"). The style can be a little frustrating, but it's worth the effort. http://www.amazon.com/Machine-Dreams-Economics-Becomes-Scien...