Socialism is more fashionable today than at any time since the Soviet Union collapsed. It’s back, and its major rival isn’t an ideology of unfettered free markets but right-wing populism. Theodore Roosevelt is a greater inspiration than Ronald Reagan to today’s young Republicans. The man most likely to be the next GOP presidential nominee, J.D.
I think the last paragraph in the article really gets at the point the best. That libertarianism has faded because libertarians—while mostly willing to challenge other forms of social hierarchy—never bother to challenge privatisation of property. The sort of internal inconsistency that causes ideologies to fail.