Watch from 11:27 – 15:26. My takeaway is that 1) Enlightenment philosophical ideals aren’t as great as we dress them up to be, and 2) an abstraction (in this case, the state) with people as its primary engine cannot be trusted with the exclusive use of force. Bear in mind that Molyneux is very much an Enlightenment-based philosophizer, too.
To be sure, “failed” is very subjective here—if you are a fan of large, expensive, obtrusive, destructive governments, then American government is a magnificent success.