A free market would pretty much eliminate the need for laws. What's wrong to you, might not be wrong to me. Therefore, you might refuse to help or trade with a person that does X, while I might have no problem with it and even help him.
Moreover, do you have any idea what a world with total privacy would look like? Even without total privacy, how do you even decide where to start (what to make public, what to keep private)? Surely, people will live in fear and keep everything they can private. How would that even work? No Google, no Facebook, no phone directory, all authors will use pseudonyms, etc. Basically, no meaningful connection will be made between people and the IoT will never possibly see the day. We'll all wear masks. Evolution will stop, we'll all die.