I like to check out what Ayn Rand says on the subject.
"Anarchy, as a political concept, is a naive floating abstraction: . . . a society without an organized government would be at the mercy of the first criminal who came along and who would precipitate it into the chaos of gang warfare. But the possibility of human immorality is not the only objection to anarchy: even a society whose every member were fully rational and faultlessly moral, could not function in a state of anarchy; it is the need of objective laws and of an arbiter for honest disagreements among men that necessitates the establishment of a government."
http://aynrandlexicon.com/lexicon/anarchism.html
and
"The essential characteristic of socialism is the denial of individual property rights; under socialism, the right to property (which is the right of use and disposal) is vested in “society as a whole,” i.e., in the collective, with production and distribution controlled by the state, i.e., by the government.
Socialism may be established by force, as in the Union of Soviet Socialist Republics—or by vote, as in Nazi (National Socialist) Germany. The degree of socialization may be total, as in Russia—or partial, as in England. Theoretically, the differences are superficial; practically, they are only a matter of time. The basic principle, in all cases, is the same.
The alleged goals of socialism were: the abolition of poverty, the achievement of general prosperity, progress, peace and human brotherhood. The results have been a terrifying failure—terrifying, that is, if one’s motive is men’s welfare.
Instead of prosperity, socialism has brought economic paralysis and/or collapse to every country that tried it. The degree of socialization has been the degree of disaster. The consequences have varied accordingly."
http://aynrandlexicon.com/lexicon/socialism.html
In the early 90's I heard Keith Williams of Hamilton Island fame speak of belief in unfettered free enterprise, he thought government had 4 functions and should not do anything else, military external force, police internal force, lands recording ownership and courts, settling disputes. I still agree with this position, the trick is to keep it small and stop it expanding.