Minecraft wiki entry for Building_a_metropolis, associated text: TimJanism (TimJan's ideal city)
Material-based economy, gold ingots are recommended as they don't have many uses like diamonds have. This will make no one able to create more by just printing it and thereby make money safer and that will let investors and companies thrive.
A free market controlled by no single person or entity. This will make the market adjust for inflation and the prices will constantly be decreasing (relatively) since the cheapest alternative is the only one that will survive (as in earning any money). This will also let everyone get richer as for example better housing will be available to even those with limited economic options since the products with the highest quality and lowest price is those who will survive and be bought.
There is a president that makes day-to-day decisions but when the decision involves lots of money the public votes, every vote is treated equally.
There are public mines and farms that may be used, but you will have to pay a small bit to the government, this money will be used only for public interests, such as roads.
There is public military, police and justice institutes and also organizes infrastructure and town planning. All law changes is voted on by the people. Other than that there is no government.