I disagree with you, however one aspect of the continental European model that I admire is the close integration between post-secondary education and industry. One of my cousins - who studied and now lives in Germany - did his Masters and PhD on the topic of work he was doing while working at <large car manufacturer>, where he still works today.

On the other hand, from my understanding such close integration between advanced degrees and industry is less common in North America - to my disappointment.