Why America's economy is soaring ahead of its rivals

That's not exactly true. The single market has been a great thing for companies producing physical products. That's also what was in mind of the people who designed the single market. They wanted to unify standards for physical stuff. Because back then, there were no digital services to speak of. "Analog" services were naturally limited in their scaling capability so they weren't in focus, but mankind had back then just learned to scale up physical production, and the single market for physical goods has largely worked out great to shape global standards and stay competitive in the area of anything that's traded and touchable.

What's been created is a bad fit for digital products and services, unfortunately. The legal frameworks covering purely digital services are far less unified than the standards for physical goods. And digital services are way more reliant on localization than physical stuff is. No amount of EU single market legislation will ever be able to eliminate the language barriers, much less other cultural barriers that are often hindering digital services successful in one EU country from being adopted in neighboring EU countries.

Therefore, for those digital services that benefit greatly from network effects, it'll be hard for European variants to ever beat their US counterparts on the domestic turfs, and virtually impossible on the global market. However, not all digital services are dependent on network effects, so there are good reasons to continue trying to make the EU single market more applicable to digital services and to foster domestic offerings whereever possible, even if that strategy will probably never lead to the next Facebook or Instagram or Amazon to be built by a EU company.

There's a reason why healthcare expenditure per capita in the US is multiple times higher than any other OECD country, and why health insurance companies are some of the biggest public ones.

This is simply not true. There is freedom of movement for workers which means it's easy to recruit top talent across the continent. Remote work is also much simplified. There's no friction moving goods and company assets across borders. The regulatory environment is significantly unified under the EU so there are few regulatory risks for companies growing outside their country within the region. Every EU company also has access to the entire continent's consumer base – 450 million residents, which is 50% more than the US.

This benefits many EU tech companies – Spotify, Revolut, Klarna, Bolt Mobility, Wise, N26, and so on and on and on.

> EU citizens like American companies

As an EU citizen, I don't bank with an American company, I don't drive an American car, I don't shop in American grocery stores nor is importing many American foods allowed on safety grounds, I don't buy American fuel, my private health insurance isn't American, and so on and forth. I only buy American tech where there isn't a more competitive Chinese alternative. I'm not against the US in any way, shape or form. I just don't think we think about the US in the EU as much as you think.

You are right in the sense that the European way of life is very different from the US way of life and we don't care that much for the economy. Yet Europe is still home to some of the largest stock markets in the world including LSE, Euronext, FSE, SIX Swiss, etc. We just don't value it as highly as other aspects in life – there is a strong sentiment of rejection of the rat race, growth of shareholder value at all costs, and other such American things in Europe.

Perhaps it would benefit you to first examine the evidence on the ground, and then re-evaluate if your belief in American values (which I respect – totally great values in many cases) blinds you to European culture around capitalism. Europe is quite socialist, after all. Naturally, less effort will be spent on capital, more on society.