Libertarian GOP vs. Technocratic Democratic Party

[WVdemocrat]

Let's say in the future, maybe 30 or 40 years from now (or whenever, the year is not important), libertarianism is the guiding ideology of the Republican Party, and the Democrats have taken on the position of "government can take positive action to improve people's lives" (through social programs and what-have-you). The Republican Party is represented by people like Rand Paul, and the Democratic Party is represented by people like Martin O'Malley, Cory Booker, and Kirsten Gillibrand. What do you think a typical election would look like in this political climate?

[WVdemocrat]

Basically, yeah.

In this scenario, a new generation of Republicans bring the party to the left on social issues, but the party maintains its laissez faire economics.

EDIT: Perhaps a third party is formed by disgruntled SoCons.