Was there a measure of danger to allowing a 12 year old that much freedom? Sure, probably. But to illustrate something that lines up perfectly with TFA... the worst thing that ever happened to me or any of my friends during this time, was when me and my then best friend were riding our bikes on the road between our homes, and he was struck by a car.
Were we ever worried about being kidnapped, or any of that crap? Hell no. That's not to say it couldn't have happened, but that wasn't on anybody's minds back then (I'm talking approx 1984 - 1990 or so).
That said, if I were a parent today, I think I'd be somewhat scared to give my kids the same amount of freedom I had. Which makes me a hypocrite I guess? Maybe I've bought into too much of the prevailing media narrative stuff myself.