I'm not going to comment on Brazilian libertarianism, but I must note that Brazil suffers from excessive regulation.
Take this article from the AtlanticThink about that for a second.
A union of people hired to deal with excessive government bureaucracy protesting attempts to make filing paperwork more accessible to the average worker. It's like something out of an Ayn Rand novel.
This is why I have trouble identifying with the economic lefty despite my sympathy for the welfare state. Opposition to nonsense like this tends to get derided with shouts of 'neoliberalism!'. A bureaucracy like the one noted above only serves to promote inequality and protect incumbents.