Sentence:  For one-period optimization, the obvious course of action to maximize consumption is to consume the whole of output by “eating up” the capital stock. The inapplicability of this tactic to an industrializing nation is transparent&mdash;it gets a lot of <WSD>jam</WSD> for today but leaves little for <WSD>tomorrow</WSD>. Jam today has therefore to be balanced against <WSD>jam tomorrow</WSD>. 
Meaning of the word marked with <WSD> tags:  Availability of a resource at a future date.