Thomas Sowell says that equality of opportunity leads to inequality of outcome. And this is the main difference between America and the rest of the world. The articles cites innovation-growth v cost-cutting as sources of increased productivity, and this parallels this dichotomy.
People interested in equality of outcome and a level playing field have to compete on cost. There's a social stigma against sticking out and achieving more, lest you become unequal, and the governments are well aware of that.
Meanwhile, innovation literally desires to reward disproportionately he who comes up with the new product. The entire purpose of the American economic system is to produce inequality.
This, combined with America's relative freedom from prejudice, is an unstoppable juggernaut. It is absolutely insane how easy it is in the United States to be handed money with limited liability to go and do whatever you want with it. This is a true blessing, and we see it not just in venture capital, but in the plethora of small businesses, as well as the plethora of credit (for better or worse).
Yes, there are problems, but I think history will show that this model is ultimately more sustainable. While true that America's productivity growth has only really taken off over the last century or so, even before then, it represented a formidable economic player.