Oh, I forgot to mention: "High prosperity" is rarely so when you look below the surface. You're right. I prefer growth that is steadier and more even.
Your support of Obama indicates that you prefer growth/unemployment more in line with Europe than America. Apparently you're fine with young Americans having difficulty finding quality jobs. Is the new Obama youth mantra the following: Yes, we can (live in our parents' basement forever)?
Northern Europe headed into the 'Crash of 2008' in, fiscally, stronger shape than either the US or UK, which enabled them to ride out the Great Recession more effectively
Quality of life in the Nordic and social market economies are nothing to be sniffed at. Austria, meanwhile, has managed to reduce their deficit to 2.6% of GDP, while maintaining the lowest rate of unemployment at 4.2% in the EU. The UK's is currently 8.3% (atrocious given the lack of an 'adequate' let alone 'generous' welfare safety net)
Southern Europe ... well they've got problems, while the 'Celtic Tiger', spectacularly, came down with a bang! It seems to link in with the extent to which European economies rode the 'housing bubble' or not