Page 23 - Azerbaijan State University of Economics

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

Thus during the linear, cyclic and waved causalities creates an opportunity to understand

even partially the trajectory of the spiral, bring the time to the more understandable condition,
make it more local and measurable.

The functional role of the economic process can be reflected from 4 aspects (Picture 8).

Economic time

Correlation Synchronization Stimulation Accumulation

Economic process: acceleration

Increase of diversification in the economy

Update

Formation of new social-economic type of society

Picture 8. The functional role of the time in economy

We would like to clarify the certain points related to usage of the economic time as a resource.
The connection and synchronization functions of the economic time are widely and scientifically

accepted. At the same time we would like to note that the economic time is independently

synchronized itself. As we showed before the economic time is asynchrony. Thus synchrony is
creased and formed. Stimulation is an activation of “mental” component of the economic time.

The functional relations between the expected level of effect and the speed of the process
provide the stimulating effect on economic entities.

The accumulation is the effect reflecting the “density” of the economic time.
The economic time accumulates the qualitative changes only during the certain time

intervals… The more the qualitative changes the higher the density of the economic time is.

The changes in speed of the economic dynamics and type of the socio-economic society
and qualitative transfer to the other level are based in different proportionality between the

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