I'm having a bit of trouble putting together your comments into a clear assertion or question for me, but I think I know what you are saying.
Firstly, I'm not European. I hold many of those values, but I am not trying to state that one value system is correct and functional in society over another. Your assertion that the values are progressive is interesting, and I can see how they match, but when you talk about traditional values of family, small business, community organizations and institutions, you can argue that it is at the heart of the most conservative.
I think that it is not necessary to have a specific value system for society to succeed, although clearly there are some common threads among good systems and some values that are destructive to any culture. Although America has never been homogenous in the sense that Europe was, it has had a core set of values that have spurred it as a society.
It's hard to abstract out what a good value system is, but I don't believe it's hard to test. If the value system provides social incentive for individuals to work together and trust each other, then it is good.
Clearly, pure narcissism has no role in that. I don't equate "rugged individualism" as narcissism, although going too far in devaluing reliance on community is clearly contrary to progress. However, it is not wrong to value self sufficiency and accountability either.