As I will discuss in my upcoming health care commentary- libertarianism is a philosophical foundation. For example, when both sides of Congress have differing education bills- the libertarian will say "Government should not be involved in education". Simplistic, yes, when compared to the hundreds of pages in each competing proposal.
It is important to point out the invalid comparison. Because the legislation is simply a product of a Marx, collective, and utilitarian philosophy- which is itself "simplistic". THe proper comparison on would be the neverending pages of education law from the Dem-Reps and the regulations, standards, and operating procedures from a body of private schools.
My criticism of Libertarianism as it is expounded today is that it is puerile. Adults who have some experience in the real world may identify with the ideals (I do) but recognize that sophomore dormitory BS-session theory is not the same as making something work in the cold unforgiving world of reality.
Beyond that, libertarianism lacks coherence today, and shows no sign of becoming a definable, understandable position in the near future.