Perhaps if you average all of Europe which is a couple of dozen countries however against specific large countries (say the UK, France, Germany) then I'd say it's not that clear cut.
Indeed look at the US, the disparity between the poorest state and wealthiest state is as great as the disparity between European countries.
The US is materially more wealthy (largely by want of having the worlds largest currency and the PPP boost that gets you) however the UK (for example) has shorter working hours, better social welfare system, free at the point of access socialised healthcare, 28 guaranteed vacation days a year, maternity and paternity leave and we are the nearest politically to the US.
All things been equal I'd prefer to live in France or Germany than the US quite frankly.