Sometimes corporations fail: when coordinated behavior is required, for example in cases of large externalities. The economics classic "Tragedy of the Commons" is exemplified by our modern day causes of and solutions to pollution (compare for example how acid rain and CO2 are/are not handled). Game theory and showed us how under real world economic assumptions and actors (not the economics 101 supply/demand model that many people never seem to advance past), markets can and do consistently fail without regulation.
Also consider what is efficient. Sure, society, life expectancy, technology, or anything can probably advance without governmental institutions (or week ones), but much faster with properly designed strong interaction much faster. As a thought exercise, consider the relative course of history with and without the CDC, WHO, and UNICEF. Go read about guinea worm disease if you need help. You seem to like the idea of consumption taxes, a revenue mechanism that is very inefficient since it ignores the declining marginal utility of money.
As an engineer myself, I am dismayed at how many engineers I encounter that don't get the above and are libertarian in nature. They should firstly be interested in designed to solutions to problems, like the various failure modes of market based systems or political institutions. Second, they should understand the dynamics and forcing functions that might drive these very complex systems to self destruction when improperly designed or regulated. Back when I was in school, they made all the engineers in the early intro classes watch the various famous cases of engineering failures...Tocoma Narrows, Hyatt Regency skywalk, space shuttle...They still do right?