Counterpoint: Volkswagen in Germany has an organized labor rate of about 98%, workers have 32hour work weeks and 6 weeks (IIRC) of holiday per year. And half of the seats in the board of advisories are represantatives of the workers*. Yet, they are quite profitable.
America has an odd work ethic. There's some sort of bravado attached to it, along with this unquenchable thirst for money. If you don't work 40 hours a week (instead of, say, spending that valuable time with your family) then you are a leech, a drain, a loser, etc. Business owners have come to expect you answer your cell phone at night and weekends. One is deemed more of a "real man" if he slaves away at overtime, filling up the weekend with more work. All the rats in the race end up similarly however. I consider myself extremely fortunate to have begun working from home @2007 and so far managed to pay the rent with low hours and no boss.