Absolutely!

Of course you need some sort of system of basic rules that people need to follow or else we'll end up in barbarism. But you can see what sort of people that type of system will attract - people who have a desperate need to control others, amoral grifters that just see the $$$ and are willing to do anything to keep the cash flowing, and psychopaths who would be right at home in a barbarian world because they're into destruction for its own sake.

Criminals ooze their way into the system, then start changing laws to suit themselves. Other self-obsessed people see that happening and say "Hey! That should be me getting all that stuff, not them!" and so they slime their way in. And it just gets worse... No one will boost anyone in the system that might outshine them so a lot of good people or good ideas will fall by the wayside.

The next thing you know, you've got people freely shitting in the streets and businesses being looted wholesale. Welcome to the 21st Century!