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Hayek was making us think of the productive process as a process in time, inputs coming before outputs.

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Mervyn Peake

There is a kind of laughter that sickens the soul. Laughter when it is out of control: when it screams and stamps its feet, and sets the bells jangling in the next town. Laughter in all its ignorance and cruelty. Laughter with the seed of Satan in it. It tramples upon shrines; the belly-roarer. It roars, it yells, it is delirious: and yet it is as cold as ice. It has no humor. It is naked noise and naked malice.