The United States’ social model still has the well-known drawbacks, but has lost its advantages

The US social model mainly consists of: Skewing of income distribution against employees; A sharp increase in wealth and income inequality; The emergence of many working poor; Small welfare transfers; A lack of job protection . This social model had at least the following advantages: It increased the employment rate (thanks to low levels of labour costs and job protection and lower social welfare costs); It was positive for innovation and technological progress (thanks to the enrichment of entrepreneurs and the incentive to innovate).