Populists on the right (and left) are claiming that American prosperity came about because of high protective tariffs. But political rhetoric can't replace sound economics.
In the past, many Americans may have simply trusted to the regime to provide "law and order." But that sentiment is apparently becoming more and more rare.
National divorce does happen, and debts are not necessarily repudiated as a result. We can look to examples from Latin America, Eastern Europe, and the Czech-Slovak split.
There is a future of capitalism with higher living standards for all. Then there is the alternative: state-directed economic stagnation and runaway inflation.
Academic finance makes a lot of use of the capital asset pricing model (CAPM), but is it compatible with Austrian economics? Indeed, Austrians do have something to say, thanks to Mises and Rothbard and Austrian capital theory.
