alt Hacker News> Yet it out innovates all of Europe, Canada, Australia, other places that have incredible social "safety nets".
Probability: highly unlikely.
Speaking for Europe, I see a lot of silent innovation. No press, no LinkedIn posts, not an article on their website. There are a lot of US firms that shop in Europe for high tech. (I know of instances were the US company buys the IP from the EU supplier + take public credit for it + forbids the supplier for showcasing their success in public.)
What is different is:
1) the amount of money available in the US. The US enjoyed a very beneficial position post-WOII, enabling them to run high deficits.
2) the US has a positive attitude to entrepreneurship. You are not a failure when your company goes bankrupt, you learn from it and you go-go-go.
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What is silent innovation? Do you think there are no silent innovation in the US?
Productivity is lacking in those other countries. That said, I don't think it has to do with safety net, which is not much different in the U.S.
Also the EU lacks a unified capital market where infinite VC money can be pooled together into any new hype. I would argue this the biggest reason.