Every coin has 2 sides - yes we have this additional security (which I love, just like everybody else), but we pay for it. Much lower salaries, companies not so agile, so they are hardly world leaders. You simply can't get compensation like those folks had/have in Europe, not as perm employee on 100%, more like 25-50% of it.
Its actually great, skilled people can choose their priorities and how they want to setup their lives and career (stupid immigration policies and bad stuff coming out of it notwithstanding).
I prefer something in between - ie Switzerland. Salaries higher, taxation lower, some middle ground on social security - ie easy to fire people, usual 3 months notice by law, but social system will give you 70% of your salary (up to an OK limit) for first year, you just need to keep doing the job hunt. It means you are not shit-scared if you take a mortgage for example, you don't need to have such a massive reserve like in US. And of course top of the world healthcare that cost very little (sickness, accidents are 0 if you work/retired) and cca free top notch education including best universities.
Europe has plenty of world leaders and very large cooperations.
Just a few examples: Automotive manufacturers, Siemens, ASML, Several arms manufacturer, Airbus just to name a few.
In addition, at least where I am, there are a million small companies (a few hundred employees) who deliver to customers around the world and, I assume, at market prices.
It's a balance and probably one of the reasons we lost out on the digital race so far.
> you don't need to have such a massive reserve like in US
If it makes you feel better people in the US don’t have massive reserves either. They just gamble and hit up credit if things hit the fan, even at FAANG salaries.
Its actually great, skilled people can choose their priorities and how they want to setup their lives and career (stupid immigration policies and bad stuff coming out of it notwithstanding).
I prefer something in between - ie Switzerland. Salaries higher, taxation lower, some middle ground on social security - ie easy to fire people, usual 3 months notice by law, but social system will give you 70% of your salary (up to an OK limit) for first year, you just need to keep doing the job hunt. It means you are not shit-scared if you take a mortgage for example, you don't need to have such a massive reserve like in US. And of course top of the world healthcare that cost very little (sickness, accidents are 0 if you work/retired) and cca free top notch education including best universities.