Of course you do. If you believe in government with consent of the governed then that is a social contract that you believe in. Then, as Who_would_fardels_bear correctly observes in #56,
If huge sections of the citizenry behave irresponsibly, then they can either choose to vote themselves into a socialist state or they can impoverish themselves so that they beg for a savior to help them out of their mess.
In other words, while freedom is necessary condition of virtue, it is not a sufficient condition. A free nation that loses its virtue will freely enslave itself.
Define "government with the consent of the people".