At July's FreedomFest in Las Vegas, Reason magazine Editor in Chief Matt Welch sat down with the chairman of the Libertarian Party William Redpath to discuss what went right (and wrong) in the LP's 2008 electoral season, how the government's response to economic tumult is shaping policy, and the hopes for a freer, more individualistic society.

"Some people say, 'Don't you get kind of depressed sometimes,'" jokes Redpath, "and I say, "We'll have a libertarian society someday, when it's imposed on us by the Chinese government….Ultimately, if our politicians don't have the cojones to step up and make the tough decisions they need to make, our foreign creditors are going to make them for us."

Approximately 10 minutes. Shot and edited by Dan Hayes.