That's an interesting theory, but I would suggest that most successful such frameworks in human history have included some form of bureaucracy.
What frameworks would you point to as examples of what you're talking about (besides the EU... cause I think it's objectively a bad example haha)?
For example, how do you reach an optimal solution for orphans with the enforcement of private property rights? Or what about regulation of the relationship between a doctor and their patients? If the patient is mentally unable to act as a rational agent, there may be a conflict of interest between the doctor and patient without regulation.
What about health and safety standards? How does only focusing on private property rights deal with the vast asymmetry of information out there?