When free market capitalism no longer governs investment, economic calculation becomes impossible and capital is squandered. Germany is squandering capital in two forms–it is scrapping the huge capital investment in nuclear power (along with the human capital that is required to produce and maintain nuclear power) while it dumps new capital down the rat hole of wind power. In the end Germany will find that its productive base is much less competitive worldwide, due to the high cost of energy.
On a recent trip to Britain and France, I saw many wind turbines. About one in ten would actually be turning. Patrick Barron