But despite the recent and significant growth of its government, America remains quite far from throwing away capitalism in favor of a European-style social market economy.

And not only does America's relatively freer economy offer more opportunity and wealth than those of Europe, its larger private safety net offers more individual choice.

In fact, there seem to be many more Europeans who prefer American capitalism to their own system than Americans who prefer the European way. Today, there are nearly 10 times more working-age Europeans living in the U.S. than vice versa, according to data from the Organization for Economic Cooperation and Development.

And only 3.8% of those Europeans in America are unemployed, yet a whopping 10% of Americans who emigrate to work in Europe are currently jobless. A big welfare state, it turns out, won't guarantee you a job.

Pursuing career aspirations is easier in America. According to 1972-2010 cumulative data from the General Social Survey and the 2010 European Working Conditions Survey, U.S. workers are much more satisfied with their careers than their European counterparts.

Of workers surveyed in the U.S., 47% indicated they were "very satisfied" with their current employment. Only 25% of those surveyed in Europe reported the same.

Read More At IBD: http://news.investors.com/ibd-editorials-perspective/112312-634513-american-economy-still-remains-freer-than-one-in-europe.htm#ixzz2D8KGsVwB