I would say a limited government, similar to the model of the Prophet (pbuh) and the four Caliphs. I don’t think most people would accept monarchy, and full anarchy doesn’t seem practical either, since such couldn’t defend themselves against external organized states.
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I listened to saifedeen’s opinion on monarchy and it made some sense. The state and its constituents should have a ying/yang relationship where a balance should be struck and incentives polarized.