However, are you sure that these advances would not have been made if the US had a different system? Like I argued before, Europe has pretty much copied the system by now but I don't see much in terms of catching up. Take A.I., for instance: completely dominated by the U.S. and China. Europe?

Like in many things in life, copying someone else's successful model is by no means a guarantee that you're going to be successful too. Why? Because your circumstances are usually completely different from whatever you're copying.