I think you’re getting close here.
What I think the hard-core Libertarian platform lacks is (1) an appreciation of cycle-times of feedback loops for decision-making, and (2) the severity of a risk of a wrong decision on the public at large.
Let me try and explain.
I don’t think the lawn-mowing industry should be regulated. There shouldn’t be laws and regulations passed to certify lawn mowers, ensure lawn-mowers are tested and licensed, and public oversight committees empowered to provide remedy and sanction to wayward lawn mowers.
Why? Because a bad decision on a lawn mower, or a lawn mowing service, isn’t that big of a deal to the public. It doesn’t pose a risk of downfall of the empire, or a collapse of the ecosystem, or anything like that. You mow your lawn dozens of times each year. The cycle time for decision-making is short. The costs aren’t going to bankrupt anybody. There are plenty of other people employing lawn mowers, or lawn mowing services, that provide millions of data points for you to examine and review and make your own decision accordingly on lawn mowers. It’s a straightforward matter for a Consumer Reports, or a competing company, to buy a few lawn mowers and test them for safety, performance and reliability and for you (if you want) to read up on their reviews and decide for yourself.
In short, lots of data, lots of fairly short feedback loops, and lots of room for corrective action possible to remedy decisions and mitigate risks. And the control for decision-making is entirely within your hands. That’s the best part.
How about funding a private, standing army to defend our borders, paid for by voluntary means? I think that’s probably at the other end of the spectrum. If you become a large, wealthy, prosperous country and fund an inadequate army, you’ll get run over by a barbarous nation and become slaves. And then it’s too late to say ‘Whoops, maybe that wasn’t such a good idea’. The severity of a wrong decision is pretty much the whole ballgame.
Whether people realize it or not, I think that is one of the core reasons most Americans oppose the hard-core Libertarian platform of privatizing ALL public lands for instance. Yellowstone? The Grand Canyon? In private hands? Maybe. But what happens if a private party screws it up? Can we re-order another one, like hiring a different lawn mowing service? Not likely. And there is really no one to hold accountable for the decision, especially if the private party exposes itself to counterparty risk or goes bankrupt. You have to place very low value on the existence of such natural areas, or assume the risk of a bad decision is extremely low, to put comfort in the idea of placing them in private hands.
So in my opinion, the philosophy starts to break down for those things that have ‘one shot’ failures with public externalities, very long cycle times for feedback loops and massive and/or unrecoverable severity.
Pristine, unique wilderness. The lost generation of an entire under-educated populace that makes our nation completely uncompetitive. Huge infrastructure projects that would take 10-20 years to get through the courts w.r.t. property rights issues and eminent domain. Our total dependence on unstable foreign dictatorships for 60% of our energy inputs.
But certifying the safety of aspirin? Deciding whether it’s OK for a label on a bottle of beer to have a cartoon skeleton on it, or not? Running a railroad? Tilting the balance of private negotiations at a steel mill in favor of the union?
In my mind, those aren’t even close calls. There is no justifiable reason why the government should take your money by force and use it to fund such endeavors.