I get the impression that America's public sector is anything but small. Sure, the spending is distributed differently, but it's still colossal.
And I certainly don't believe America is equipped with [...] with a more risk encouraging mentality.
While this is certainly not true for all of Europe, I grew up in Austria, and when I visit, I'm struck by the total apathy towards entrepreneurialism, especially amongst the younger generation. There are of course exceptions, and they tend to congregate, so you notice them more. But the vast masses still seem to believe in the "cushy job for life", despite most of my classmates from school not having found it, 10 years after finishing high school. They find it completely unfathomable why you could possibly want to start a company.
And I certainly don't believe America is equipped with [...] with a more risk encouraging mentality.
While this is certainly not true for all of Europe, I grew up in Austria, and when I visit, I'm struck by the total apathy towards entrepreneurialism, especially amongst the younger generation. There are of course exceptions, and they tend to congregate, so you notice them more. But the vast masses still seem to believe in the "cushy job for life", despite most of my classmates from school not having found it, 10 years after finishing high school. They find it completely unfathomable why you could possibly want to start a company.