Libertarian systems generally assume everyone is rational - this is not true. If it was, you and I wouldn't have different political idealogies, but would come to a similar, rational conclusion, whatever that may be.
That does not mean that human irrationality does not exist, or we would not have progress. We definitely have the rationality needed to make progress and collectively recognize our faults. This is generally how things like "states" and "regulations" arise - as a way to compensate for our lack of cohesiveness, rationality, and cooperativeness as a species.
I see states and regulations arising to take advantage of irrational humans, and rational humans get railroaded in the process. A rather sad state of affairs. Just look to Hitler as a good example. Look into the faces of Germans to see their elation when their Furor came. They almost saw him as their savior. They were just looking to find a way out of their poverty and oppression. Little did they know.
I'm not saying all governments are as destructive as the Nazis but they certainly have some similarities. The following is a quote parroting what others have said in the past (you aren't the first):
"Moreover, if they have consented to recognize in the heart of man a capability of action, and in his intellect a faculty of discernment, they have looked upon this gift of God as a fatal one, and thought that mankind, under these two impulses, tended fatally towards ruin. They have taken it for granted that if abandoned to their own inclinations, men would only occupy themselves with religion to arrive at atheism, with instruction to come to ignorance, and with labor and exchange to be extinguished in misery...It is only needful to open, almost at random, a book on philosophy, politics, or history, to see how strongly this idea—the child of classical studies and the mother of socialism—is rooted in our country; that mankind is merely inert matter, receiving life, organization, morality, and wealth from power; or, rather, and still worse—that mankind itself tends towards degradation, and is only arrested in its tendency by the mysterious hand of the legislator." -- Frederic Bastiat, 1850.