If you follow individual liberties to their extreme end, you have cannot have a society as nobody makes sacrifices in personal belief systems, pleasures etc. for one another. You have small warring tribes. If you follow government control to its extreme end, you have perfect communism where nobody has an incentive to work hard and corruption/cronyism cripples the entire system. There always has been, and always will be a balance that swings back and forth along the two extremes.
We allowed capitalism to get out of control through deregulation since Reagan and now people are angry because they thought the government was supposed to protect them from corporations (FTC, FDA, SEC) but it did not. So now the pendulum is swinging back in the opposite direction. It's a never ending cycle.