Minarchy \MIN-urk-ee\ , noun;
1. Minimal government, specifically a (hypothetical) form of government that does not interfere with individual rights and civil liberties, and that has itself no right to levy taxes upon legitimately acquired property
This theory was posited in 1974 by Robert Nozick, an American philosopher, but he didn't actually use the word minarchy. The word was first attested in 1984 in S. Newman's 'Liberalism at Wit's End.'