[rmason]

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."

- Léon Blum (1932)

[mustafa_pasi]

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.