Europe certainly has a better model here than the US (more vacation, unemployment benefits), but there's room for improvement (eg. basic income).
Personally I left my office job in NYC about 4 months ago and have been traveling for the last 2 months (in South America). Being here and meeting other travelers (especially European), digital nomads, etc. has really made me realize how toxic American rat race work culture is. One Colombian I met who spent time living in the U.S. summed it up the best - Americans only seem to think about money.
Now I know some of you will say "but Colombia is poorer than us!" That may be the case, but it doesn't dispute the fact that our culture has become toxic - money/work obsessed, 2 weeks/year vacation, usurious amounts of student loan debt, etc.
If you need an example of a country with a bit more sense - I met a 28 year old Finnish guy here in Colombia in the middle of a multi-month vacation. His job back in Finland? Working in the deli section of a supermarket selling sausages. Completely blew my mind. If he were born in America and in the same occupation, he would probably not have the time or money for a 2 month international vacation. I've got friends the same age in professional occupations (eg. economist for the government) forgoing vacations until they pay back their 6-8% interest student loans. Europe in general has a much healthier attitude when it comes to work/life balance than America. Though on the bright side, at least we have it better than Asia (minus the student loan and healthcare part).