"Raw energy of capitalism"
America's capitalism was always more successful and humane than Europe's precisely because we were a more Liberal nation; we introduced or developed anti-trust legislation, child-labor laws, public education, 8 hour days and 40 hour weeks, welfare services, social security, product regulations, safety standards,the union movement and a host of other institutions to tame and control the raw energy of capitalism.
The problem with this thesis is that Europe has a lot MORE of these "controls on the raw energy of capitalism" than we do. How's that working out for them? In theory, they should be doing much better than we are economically.