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A liberatarian catch-all used to describe a limited, functional government that ensures an ideal free society. The synonymity with 'monarchy' is unintentional and an ironic symptom; the true roots of "minarchist" are "minimal" and "archist", the later being a Greek derivation of "ruler".
"Anarchy would be a society with no government at all, while minarchy would be a society with a very "minimal government." - As quoted from an amateur Libertarian essay that you can google easily.
minarchy by MoaMission December 16, 2011
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monarchy 

A form of government in which the head of goverment (a King or Queen) inherits the title.

Absolute Monarchy is where the King or Queen has absolute power and can do what he wants.

Constituitonal monarchy is when the King shares power with Parliament and must follow the rules of the constituition.

Originally, thousands of years ago, monarchy was so that one guy could control all and everyone would know who succeeded him. This way, there were no fights between people over things like laws or taxes because only one person decided that, and no fights over who would succeed him because it was his child. Unfortunately in many cases (I won't say most because that is an opinion) the ruler wasn't suited for the job and there were fights anyway. Because of this many countries either changed to Democracy or changed to Constitutional Monarchy.
Absolute Monarchy: Louis XIV of France. Now obsolete.

Constitutional Monarchy: The current government of England.
monarchy by Newbia May 30, 2004

Minarchist 

When I realised that, if there is no government, you can't stop another one from being formed (by, say, biker gangs), I realised that anarchy is just as rational as communism, and became a minarchist.
Minarchist by Coemgen MacLaren October 3, 2008

monarchy 

An out moded for of government where power is handed down by accident of birth rather than other means.
monarchy by black flag May 29, 2004

milarchy 

That's a bunch of milarchy.
milarchy by 2014_chiguy October 15, 2006

monarchy 

An obsolete form of government, yet in the 21st century there are still people who somehow delude themselves that anyone with an inherited title is somehow special.
heredetary titles are useless and obsolete, people should be elected to government, not born into the position. Socalled "royalty" isn't anything special u duds.
monarchy by Marcel April 19, 2004

minarcho-socialism 

A socialist mode of production (ie, means of production owned by the workers, standard wage) with a minimal government to ensure the preservation of worker's rights.
Libertarian socialism is a broader term that can break down into smaller ideologies, such as anarcho-socialism and minarcho-socialism.