A “perishable good” is something that declines in value when it is not consumed. Like cranberries. Or football tickets. Or labor.
An hour of labor, if not used, is gone. Gone forever.
Think about it. Today, February 10, 2012, there are millions of Americans who can work, who want to work, and who can’t find a job. There are millions more who want to work a full day today, and will work only for a few hours.
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