As @acri1 has pointed out "libertarians" really don't have a finger on the pulse of HUMANITY and like to apply number theory to often unpredictable people.
Companies don't hire when taxes are low, it makes no sense.
People don't save even though it's in their best interest. People don't go to college even though it's in their best interest. They don't eat correctly. Hell take a look at the vast majority of america and based on health, credit score, education level, divorce rates, etc, etc can you really say they do what is in their best interests vs what they BELIEVE is in their best interests?
See again, The problem isn't that people make bad choices, the problem is that any system of governance should take into account that simple undeniable truth.
A completely free market devoid of regulation doesn't take into account people.
in a perfect world a complete and utter free market where all people act like robots and "do the right thing" then sure, that would be teh way to go. But, in a world with greedy ass people who can't see past their own self interest, well, we need regulation.
making it so they individuals dont have to worry(as much) about making extremely poor decisions doesnt seem like much of a solution... or like the role of govt. but I concede people will do bone head things.
I'd also argue that the fact people are not robots is why we are where we are, and that a unregulated market free from the force of bone head individuals would be superior in almost every regard.
I know i'm not gonna sell you on the free market i'm just sayin.
If people are gonna do stupid things, why put enormous economic power(govt.) in their hands?