Page 11 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.70, # 2, 2013, pp. 4-31

The attempts to equate the economic and physical time are coming from this point.

Thus the specifics of the economic time show that the speed of the economic time is the
only important feature of this substance. From this point of view the important point here is not a

quantitative, but a qualitative acceleration of the economic time.
The increase in the scale of the economic activity does not always mean the strong effect of the

obtained results. In some cases this effect is totally eliminated. The thought that the increase in large
scales can bring about the large positive effects is not out of dated and nowadays is not accepted in

adequate way.

The hypothesis supported by us can be proved only from the point of view of the mentioned
above discrepancy. Thus the increase in the scale of the economic process does not consist of 1

process: it is realized at least in continuum of time – location. From this point of view the expansion

of the location cannot be neutral in respect of the time. In any case there is strong correlation between
the expansion of the scale of the economic process and speed, “density” and cycle feature of the

economic time. Moreover, the savings from the expansion of the scale play an important role in
“expenses” of the economic time. The economic process in its any form can be described as time-

consuming process. The time itself creates the determined dynamics within the economic process.
The economic time is the most important component of the economic process and

moreover it is a specific resource for this process.

The economic projection of the philosophic time
In reality, the “static” and “dynamic” approaches to the time notion are quite abstract and

simplistic, which creates discomfort for the understanding and acceptance of this notion. The
source of misleading is the position towards the “movement” of the time. In order to prevent this

misunderstanding we should consider the certain misleading nuances:

The economic process is continuously moving. Notwithstanding the development stage,
period, speed or incurrence of the crisis the economic process never stops. Even its inertness is not

created by cease of the time, but formed from collision of time “flow” coming from the past to the
present. We should accept that there is no such expression like movement → change in the economic

time. There is movement, the economic process never stops, however the changes also do not occur.

At the same time in order not to mislead you, I would like to note that the “changes” above
are considered as a transfer to the new development level or creation of necessary and sufficient

conditions. In other words, the changes are denoted from the quality point of view. It is clear that

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