TITLE:
The Problem of Time
AUTHORS:
Li Choy Chong, Luisella Balestra
KEYWORDS:
Time; Economic Modelling; Economic Dynamics
JOURNAL NAME:
Modern Economy,
Vol.5 No.3,
March
26,
2014
ABSTRACT: Time is a difficult topic for the scientist.
This paper investigates how this particular subject is considered in economics today
and what the implications are. We demonstrate that today orthodoxy has avoided
to treat the temporal element, creating a dangerous contradiction at its inside. A reconsideration of time has to be
formulated, since the reintegration of the chronological entity offers better
interpretations for several phenomena such as economic crisis.