I think everyone at some point during their tenure with their particular ideology tries to take a literary character from a book that they really like and admire and tries to turn that character into a paragon for something that they are probably not. Except me of course, because Gandalf the gay… I mean grey was SOOOOOOO clearly a libertarian!
Not only did he smoke copious amounts of weed and always seemed to be packing (a staff), but he also had a very good sense that power corrupts. If you are a purist you’ll have to excuse me quoting the movie instead of the book..
‘Don’t… tempt me, Frodo! I dare not take it. Not even to keep it safe. Understand, Frodo, I would use this Ring from the desire to do good. But through me, it would wield a power too great and terrible to imagine’.
He also knew that it’s the little people, and not the governments of the world that will get the job done and he trusted them with that responsibility.