Page 13 - Azerbaijan State University of Economics

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

problematic are the change of the system type, its transfer to the other level and quality type. For

example, in order to come to the post-industrial economic system the economic wave and
economic cycle which be homogeneously synchronized. This is axiom. From this point of view

the division of the economic time into the macro and micro levels is meaningless. The economic
time within the macroeconomic system turns into the function of the economic time in the micro

level. The time with the symbiosis feature is forming. The trajectory of the economic cycle and
economic wave together with directly determined inter-subjective time level reflects the

traditional hierarchical structure (time related), which reflects the all elements. And… from the

first the time is chaotic however its “spiral” time form brings it to the absolute form.
The economic time became the mental result of the removal of the hierarchical structure

and traditional methods of its measurement by replacement it with the “spiral” form.

It is obvious that the time cannot be measured by physical length metrics. There is no
“moment points” within the “present” (unlike in natural sciences).

Stephan Klein wrote that physicians “...were not able to find the atoms of the time till now.
Nowadays the most powerful chronometers are laser lightning. In order to measure the specifics

of the time atoms lightening are used” [Stefan Klein.2011]. It is known that the shortest light
impulses take several atom-seconds. One atom-second accounts for one billionth part of the

second, i.e. 0,000000000000000001 second! (10-18 seconds).

At the same time from the theoretical point of view, they support the idea of division of the
time to smaller parts. For example, Quant theory says that it is possible and the smallest time

interval is called “Plank time” (10-43 second) named after the scientist Max Plank. Considering
that this time overcomes the physical frames, it is called “God time”.

Thus the time has the borders! … There is lower border and upper side is limitless… If the
time is not unique and if there is no “bottom” limits, then which time is upper limitless?

From economic point of view in most of cases “now” is accepted are certain time interval

(not point of time).
In other words, depending on the application and understanding the economic time is

differentiated. The differentiation process starts from the segregation of the economic process

into the different parts in accordance with their meaning and importance. In reality, mentioned
process is related to ownership of the specifics of the economic time.

In economic time the borders separating the “present” from the past and future from the

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