As a former basic bitch libertarian, I remain sympathetic to them. I do in fact believe that the general framework of a minarchist society by far results in the greatest prosperity and happiness for its citizens. I also believe that such a society can only be maintained if women and the poor have no voice in government, immigration is held below 1% (probably well below), and some adequate of connecting ideological poison (such as Islam and Communism) to treason. That's why I don't openly identify as libertarian any more.
Scott Alexander, a leftish libertarian (AFAIK he isn't full dildos about it) has a piece up in which he "solves" the problem of college degrees blowing up in cost by saying employers shouldn't be allowed to ask about your degree and should instead just give you proficiency tests. It's a great example of how smart people say stupid things when they're not allowed to think about race. His final paragraph is a good summary of his whole article:
If I were Sanders, I’d propose a different strategy. Make “college degree” a protected characteristic, like race and religion and sexuality. If you’re not allowed to ask a job candidate whether they’re gay, you’re not allowed to ask them whether they’re a college graduate or not. You can give them all sorts of examinations, you can ask them their high school grades and SAT scores, you can ask their work history, but if you ask them if they have a degree then that’s illegal class-based discrimination and you’re going to jail. I realize this is a blatant violation of my usual semi-libertarian principles, but at this point I don’t care.
Alexander's a smart guy, so how is he not aware that America used to work like this? Employers didn't always require degrees. They used to give aptitude tests, a technique pioneered by the US Army during WW2 to process the huge numbers of conscripts, but that got banned because black people don't do so well on them. Black people also don't do so hot on the college degree front, but that's been allowed because academia is primarily a rent-seeking mechanism for the left.
A consistent theme among libertarian writers, both left and right, is that they ignore the fact that the way things are the way they are is because America has adopted into its civic morality the principle that you can do whatever you want so long as it doesn't disparately affect black people. Well, unless it results in increased cash flows to left-wing institutions, that is. Libertarian technical solutions get no traction in America, because America's problem isn't technical. It's moral.
Until your average American has no moral qualms with one group of people outperforming another, libertarianism will make no serious strides in the economic realm.