Well I can say this: Europeans are doing pretty good, without their own Silicon Valleys, because the produce (contrary to USA): 1. Cars - Germany, Sweden, Franc

Well I can say this: Europeans are doing pretty good, without their own Silicon Valleys, because the produce (contrary to USA): 1. Cars - Germany, Sweden, France, Italy; 2. Food you can actually eat (german/belgian chocolate - compare to Hershey's); 3. Sun panels/sun energy: (Germany) 4. Toys (Lego almost completely produced in Europe); ...and so on. Hi-tech research is often run by governments. Generally better (egalitarian/well payed) job environments decrease incentive to be entrepreneurial.