The difference between anglo saxon and continental european capitalism is recent

[buritobr]

I have heard often that there are different kinds of capitalism in the developed world

Anglo Saxon capitalism: low taxes, small social safety net, high tolerance to income inequality, unregulated labor markets
Continental European capitalism: high taxes, big social safety net, low tolerance to income inequality, regulated labor markets

At the beggining, I though that these diferences were related to the history of these parts of the world. But then I learned that most of these differences are recent. They started during the Thatcher/Reagan Era.
Income inequality was very high in the developed world in 1913. The inequality in Europe was even higher than the inequality in the USA. In Europe, the top 10% earned 45% of the national income. In USA, 40%. The inequality fell after the two world wars and remained stable after 1945 in the continental Europe and started to increase again since 1980 in the USA and in the UK. In 1960, the top 10% earned 36% in France, 34% in the USA, 31% in FR Germany and 29% in the UK. In 2010, the top 10% earned 48% in the USA, 42% in the UK, 36% in Germany and 33% in France.
In the 1960s, income tax max rate was higher in the USA and in the UK (>70%) than it was in France and Germany (~60%). These rates fell strongly in the USA and in the UK after 1980, and slightly in France and Germany. Now, these two continental countries have higher income tax max rates than the English speaking countries.
The real value of the minimum wage grew in the USA between 1950 and 1970 and remained stable in France during this time. In the late 1960s, the minimum wage in France was 1/3 of the minimum wage in the USA. Since 1970, the trends inverted. The real value of the minimum wage has been growing in France since 1970 and the real value of the minimum wage in the USA has declined. Nowadays, the minimum wage in the USA is 2/3 of the minimum wage in France.
Not only the USA and the UK but also Australia and Canada had increasing inequality since 1980. This trend has been being much more moderate in Continental Europe.
In 1960, the USA had already a lower tax revenue/GDP ratio (~29%) than France (~33%). But today, the difference is much bigger: 30% in the USA, 49% in France. Until 1960, the tax revenue/GDP ratio in the UK was bigger than it was in France.

Supporters of the "American model" say that it rewards hard work. Supporters of the "French model" say that it is fair. But many supporters of both models speak as if these models were a part of the culture of both countries. Actually, most of the diferences of the two models started in 1980.