The on-going global financial crisis, coupled with the lack of political consensus about how to move forward toward recovery, has put the future of capitalism in question. Around the world, and across the political spectrum, politicians are calling for increased government regulation of markets and more restrictions on businesses. Moreover, there is a growing question of whether free markets and a minimally regulated economy will produce a fair and prosperous society, where individual effort and hard work is rewarded, and where capital is put to its most productive and useful ends.

Bill Kristol, editor of The Weekly Standard; Yuval Levin, editor of National Affairs; and Tim Montgomerie, opinion editor and columnist for The Times, engaged in a transatlantic dialogue on the roots of the persistent economic crisis in the US and Europe, and how to formulate a politically durable and innovative conservative reform agenda in response.

Below is a podcast of the discussion, including audience Q&A

The conversation was moderated by Jeffrey Gedmin, President and CEO of the Legatum Institute.

In the video below, LI Senior Programme Director and Fellow, Zachary Courser, interviews Bill Kristol and Yuval Levin.

Kristol and Levin also met for a roundtable discussion with members of the Free Enterprise group of Conservative MPs, including Kwasi Kwarteng and David Rutley.

About the Panellists

Bill Kristol is Editor of The Weekly Standard, which, together with Fred Barnes and John Podhoretz, he founded in 1995. He is recognized as one of the America's leading political analysts and commentators, and regularly appears on several major American television public affairs programmes. Before starting The Weekly Standard, Kristol led the Project for the Republican Future, where he helped shape the strategy that produced the 1994 Republican congressional victory. Kristol has also served as chief of staff to Vice President Dan Quayle during the George H.W. Bush administration, and to Secretary of Education William Bennett under President Reagan. Prior to coming to Washington in 1985, Kristol taught politics at the University of Pennsylvania and Harvard's Kennedy School of Government.

Yuval Levin is the Editor of National Affairs. He is also the Hertog Fellow at the Ethics and Public Policy Center in Washington, DC. A scholar of domestic policy, science and technology policy, and bioethics, he also serves as director of EPPC’s Bioethics and American Democracy program. Levin is a senior editor of The New Atlantis, and a contributing editor to National Review and The Weekly Standard. He has been a member of the White House domestic policy staff (under President George W. Bush), executive director of the President’s Council on Bioethics, and a congressional staffer. His essays and articles have appeared in numerous publications including The New York Times, The Washington Post, The Wall Street Journal, Commentary, and others. Levin is also the author of Tyranny of Reason and editor (with Chris DeMuth) of Religion and the American Future and, most recently, Imagining the Future: Science and American Democracy.

Tim Montgomerie is Opinion Editor and a columnist for The Times. Prior to this, he was editor of ConservativeHome website which he founded in 2005. He was also co-founder of the think tank Centre for Social Justice. From 1998 to 2003 Montgomerie was speech-writer for two Conservative Party leaders, William Hague, and then Iain Duncan Smith, who he also served as chief of staff for in 2003.