The biggest hole in libertarian fantasy is the idea that a shrunken government will stay shrunk. The voters will grow it again, or the oligarchs will buy it again.
The best you can do is have a well-educated population of voters to rein in corruption. You won't get that from a minimalist government, you need at a minimum an education system to produce well-educated voters.
An_Old_Big_Tree OP wrote
Replying to deleted2 (#38,752)
I think the simple answer is that they imagine themselves the bosses.