Yes, that is libertarian thoery.
Sometimes real world experience proves that libertarian thoery is wrong. I don't know much about Mad Cow disease, but a recent news story about a guy who got on an airplane with a new drug resistant form of tuberculosis is a great example of how the real world proves that libertarian theory is wrong.
There's also France's highly successful socialist program of nuclear power. Libertarian theory says it can't be successful, but real world experience proves that libertarian theory is wrong.
I generally lean very strongly in the direction of libertarianism, but when real world evidennce proves it to be wrong, I won't deny that real world evidence.
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