If you could govern your own island

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Ok here's a question to make people think!! If you could govern your own island, with a couple family groups, how would you do it? Mind you this Island has all the necessities for all the families, food (live and plant :P)clean water, and so on. What laws would you have, and what laws would there be different from where you are today? What would you use as currency? How would you have people work, Etc. If I was to govern my own island, I would try for a "Utopia" but people have to work for what they deserve. Meaning, one person can't live off the whole group. It is hard for me to explain my change in laws if I was to be able to have my own island with people hehe. I would make sure that I had other's opinions of coarse, it'll be about the people. Because it is a small community I think it would work a little better than a HUGE country. all the huge rules that the US would have would be definitely thrown out, and made smaller and less "Complex" I suppose. Lol. I would not allow guns. No fire arms whatso ever. Although bows and arrows might be ok. Guns are just too, how do you say it, overpowering? It makes people feel invincible and if people have them and the ability to use them, something bad could happen. Hopefully in such a small community nothing bad would happen. I would appoint marshals to keep the peace and such as well. There's just a lot of things that would make a small community thrive. How would you go about keeping a small community intact if you had the choice of making all the rules and such? (is very interested in what other's have to say :D)