In the real world, and more particularly in 21st-century America, encroachments on privacy, personal security, and the environment are as likely, if not more likely, to come from business as they are from the state, and these are threats that require state regulation if they’re to be mitigated or dispelled.
As for pure libertarianism, by denying a role for the state and dismissing the threat to liberties increasingly posed by the dominant corporate sector, it is about as germane to the American future as Trotskyism.
The European Union, for instance, has enacted stringent privacy regulations that protect consumers from having their banks, phone companies and other businesses that have data on them from sharing those data with one another. No comparably binding legislation exists on the federal level in the United States.
This is hardly to argue that all European regulation protects individual freedoms or maximizes social outcomes. It is to point out that regulation is often the only way to protect encroachments on individual freedoms.
In short, the free play of markets can be a threat to individual freedom, unless individual freedom is a term that applies only to businesses and not to their consumers or employees or the people who must breathe their pollutants.
This is great stuff.