A slightly broader question: why does it seem that American capitalists are more entrepreneurial, whereas EU capitalists are more risk averse?
If American capitalists are making such great rewards by being more daring, why aren't EU capitalists learning from this and following suit? Or one could similarly ask, why are American capitalist not as financially conservative as EU capitalists?
Or ... are they? Are EU capitalists just as daring, but they only invest in US entities? Is that it? If so, why?
I think this nearly 100 year quote puts it succinctly:
"The essence of American capitalism is to allow the rapid emergence of new companies, the essence of European capitalism is to do everything so that old companies do not die."
Could one then say that this is partially cultural? Because back in 1932 most EU countries did not even exist in their current state. Let alone all the modern excuses that people give.
