The libertarianism that Reagan spoke of describes a philosophy of preserving individual liberty, with the idea that doing so is in the best long-term interest of the nation. Sadly, we're seeing an attempt to re-define it as being synonymous with anarchy simply to discredit the Libertarian party. The cost is the loss of the idea of libertarianism Reagan spoke, and leaving his words incoherent as a result.
If that was so core to President Reagan's admiration of libertarians I wonder why he never took up that issue in the eight years he was in office?