With John Harwood in for Tom Ashbrook.

Rand Paul and others on Libertarianism and the future of the Republican Party.

Republican U.S. Sen. Rand Paul of Kentucky speaks at a fundraiser for state Sen. Jack Johnson in Franklin, Tenn., on Sunday, July 28, 2013. (AP)

The Republican Party needs a new formula for winning national elections, and Libertarians like Sen. Rand Paul think they have it: a much smaller government, a much less aggressive foreign policy, and a much more tolerant social policy. But they've tried before and failed - for decades. Are there enough of them NOW to remake the GOP?

This hour, On Point: We'll talk to Sen. Rand Paul of Kentucky, who's trying to finish the work his father started.

Guests

Senator Rand Paul, Republican Senator from Kentucky, elected in 2010. Author of "Government Bullies: How Everyday Americans are Being Harassed, Abused, And Imprisoned by the Feds." (@senrandpaul)

David Boaz, leading libertarian thinker and executive vice president at the Cato Institute. Co-Author (with David Kirby and Emily Ekins) of: “The Libertarian Vote: Swing Voters, Tea Parties, and the Fiscally Conservative, Socially Liberal Center." (@david_boaz)

Molly Ball, staff writer covering national politics for The Atlantic. (@mollyesque)

From the Reading List

Politico: Rand Paul: ‘Old guard’ losing elections -- "Sen. Rand Paul (R-Ky.) said he agrees with those that say there is pushback from the Republican establishment when the party faces heat from factions such as the libertarian wing. Newt Gingrich said Thursday that he thinks the establishment is growing 'more hysterical' as Paul and fellow Republican Sen. Ted Cruz rise in prominence. Paul said Friday on 'The Laura Ingraham Show' that he thinks the establishment needs to welcome new ideas."

Washington Post: Libertarians flex their muscle in the GOP -- "Libertarianism once again appears to be on the rise, particularly among the young. But its alliance with the Republican establishment is fraying, as demonstrated by the increasingly personal war of words between two leading potential 2016 presidential contenders."

Pew Research Center: Whither the GOP? Republicans Want Change, But Split over Party’s Direction — "Coming off of two consecutive presidential election defeats, most Republican voters believe that their party must address major problems to be more competitive in the future. And roughly six-in-ten say improved messaging alone will not be enough – the GOP also needs to reconsider some of its positions."

You can listen to just our interview with Senator Rand Paul, here.