I meant to make this into an insightful post, but I can never quite manage to say what I want to say. Anyhow, here’s a Freakonomics article how some Chinese people find work waiting in line for others. Here’s a blog post on how health care is rationed in Sweden. What do these two articles have in common? Both show how time is easily converted into money.
The lesson to take away from this is that markets always exist, even when the government attempts to get rid of them. In Sweden, people paid for medical services in time instead of money. The same was true in the USSR, where grocery shopping consisted more of waiting in line and less of spending money. This is because, as the article on China shows, time and money are easily converted to one another. If you cannot spend money, the next best thing to do is spend time. This also happened in Canada, where, if memory serves me correct, some provinces had waiting lists of over ten months for maternity beds.
Anyway, it looks like this proves the old maxim is correct: Time is money.