I gave up my FT.com subscription decades ago because The Financial Times became nothing more than a pro-Brussels rag published in London. I watched “Sir” Martin Wolf go from capitalist to neo-Keynesian to statist madman in two crises. But this morning, I found myself on the front page, reading the title of an opinion piece, “Defence is the greatest public benefit of all.” Its subtitle is “Spending on pensions and healthcare is more popular with voters, but Europe and the UK must make politically tough choices.”

The author, Bronwen Maddox, is correct. She also inadvertently points out the chief problem with democracy: voters will always vote themselves free stuff when they can. Though there’s no evidence he said it, this quote has been attributed to Benjamin Franklin: “When the people find that they can vote themselves money, that will herald the end of the republic.”

That voting pattern fuels government expansion. Expansion is what a government does best. Like a relentless parasite, the State grows, siphoning wealth and freedom under the guise of providing “services” no one asked for. But what if we stripped it down to the bare minimum? What if we limited the State to its only legitimate functions—protecting life, liberty, and property?

I recently received this in the mailbag:

Please do not ever say Trump is a Libertarian. I am not sure if he can even spell the word. Just because he might occasionally do something Libertarians approve of, he is not a Libertarian. Saying he is a Libertarian only confuses people about what Libertarians stand for. Charles G.

Hi Charles. Are you talking about Walter Block’s awful evictionism or Murray Rothbard’s controversial opposition to the Civil Rights Act of 1964? What about Stephan Kinsella’s vehement objection to intellectual property? I’m a Hoppean, which means I’m a right-libertarian who prefers monarchy to democracy because there’s only one head to cut off and no swamp to drain. I can’t stand left-libertarian libertine views for the most part.

Many libertarian views are contradictory. However, Trump has undoubtedly given more freedom to his citizens within their borders. He should be lauded for it. And I get the giggles every time he lets Elon unleash his DOGE chainsaw. Democrats allege “no one voted for Elon.” So why are so many Americans (past and present) thrilled when Elon saves another billion?

It’s because libertarians have long championed the idea of a minarchist state—a government restricted to just three functions: police, military, and courts. Everything else? Left to the free market and voluntary exchange. This isn’t just a philosophical pipe dream; it’s the blueprint for a freer, more prosperous world. 

Every time Elon cuts, we get closer to this minarchist dream. (We’ll never get to anarchy; Americans don’t want monarchy. That’s just fine with me.)

What’s left for The State to do then?

The State’s Only Legitimate Role: Protection

According to minarchism, The State’s only justifiable purpose is to prevent force and fraud. This allows for only three “branches” of government:

1. Military: Defending citizens against foreign aggression.
2. Police: Protecting citizens from domestic threats.
3. Courts: Enforcing contracts and resolving disputes between citizens.

Anything beyond these functions becomes coercion. When a government starts redistributing wealth, regulating industries, or engaging in social engineering, it stops being a protector and becomes a master.

Bureaucracy Breeds Corruption

Every additional government program is an opportunity for inefficiency, waste, and corruption, as we’ve plainly seen. A bloated government doesn’t serve its citizens; it serves politicians, bureaucrats, and their cronies. Think about it: Has any government program—welfare, public schooling, central banking—ever run efficiently? No. They expand budgets, increase regulations, and fail to deliver results.

The more the government intervenes in markets, the worse the results. Healthcare becomes more expensive, housing becomes unaffordable, and education becomes indoctrination. Bureaucrats thrive while citizens struggle under the weight of taxation and inflation.

The State Creates Problems; Markets Solve Them

If something is necessary, the free market will provide it. Private companies build roads, voluntary organizations and tuition fund schools, and private firms offer security. How about those private firefighters in the recent California inferno? They’re among the few who saved anything. The market rewards efficiency, while governments reward failure with bigger budgets.

Take the Soviet Union as a case study of government overreach. Everything was centrally planned, resulting in shortages, black markets, and a collapsed economy. The freer the economy, the more wealth is created. The wealthiest, most innovative nations in history—19th-century America, post-WWII Hong Kong, and modern-day Singapore—thrived precisely because they limited government interference.

The Welfare State: A Pyramid Scheme

Government welfare is an inefficient moral hazard. When the state becomes the primary caretaker, personal responsibility turns to dust. Instead of fostering independence, it breeds dependency. Instead of lifting people out of poverty, it traps them in a cycle of reliance.

Contrast that with voluntary charity. Private charities - and I’m not talking about the odious charity industrial complex of Wall Street or Hollywood - are more efficient and accountable than government welfare. They are funded by people who choose to give, not coerced taxpayers.

Taxation: Theft by Another Name

The more the government does, the more it taxes. And taxation, at its core, is legalized theft. If you don’t pay, they take your property, garnish your wages, or imprison you. Imagine if private citizens acted this way. If your neighbor demanded 30% of your income under threat of violence, you’d call the cops. But when the government does it? It’s called “civic duty.”

A minarchist state dramatically reduces taxation. Without bloated welfare programs, unnecessary agencies, and an overreaching bureaucracy, taxes could be reduced to a minimal level—just enough to fund the core protective functions. This means more money in your pocket and more freedom to spend as you see fit.

Wrap Up

Every time a government program is enacted, a little freedom is lost. A minarchist state ensures that the government does only what is necessary—protecting citizens from violence and fraud—without interfering in their economic and personal choices. It encourages personal responsibility, economic freedom, and voluntary cooperation. In short, it creates the conditions for prosperity.

If history has taught us anything, it’s that big government is the enemy of progress. The solution? Cut it down. If we want a freer, more prosperous, and more innovative world, we must embrace a government that does less, not more.

Trump must continue to starve the beast. Elon, grab the chainsaws!

Have a wonderful weekend!