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)
"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)