> If EU doesn't have valuable companies and cannot produce valuable products how come that EU is not much different for living standarts than the US then?
I think you need to turn this question around: if the USA has all these valuable companies and all this amazing innovation, how come our standard of living is the same or lower than that of Europeans? What's all that stuff for? Just making a bunch of people very rich?
The inequality doesn't just exist between nation states. It also exists within the US. It's making Californians rich.
That's what people forget. The US is a large country with states that have a land mass as big as entire nation states. It's entirely possible that one or two states are doing well while the rest are doing very poorly.
There is an obvious economic split between those who went to college to move to the growing places and those who didn't and had to stay behind in a stagnating community.
I think you need to turn this question around: if the USA has all these valuable companies and all this amazing innovation, how come our standard of living is the same or lower than that of Europeans? What's all that stuff for? Just making a bunch of people very rich?