Time posits interesting possibilities. On the one hand it implies a forward-accelerating reality. On the other hand it exemplifies the cumulative burden of the past. All entities, living or not, appear to pass through and experience time. In the process of our experience of time, we consume it. We allocate it.
It so happens that this allocation is undertaken across our desires and demands. The purification of reality that we undertake so as to realize time is succinct. Production of time is unknown. Throughout epistemological inquiries, knowledge about how and why time is produced is yet unclear and probably unknown. Yet, we humans are accustomed to a near-alcoholic addiction to believing in “time”. Emotions, evolution and energy flow so crushingly throughout our intellectual veins that we forget to realize that past, present and future might merely be an illusion.
This illusion ceases to be a truth, when we consume it. Even though production of time is yet unknown, consumption of time is a critical element in economic theorizing. The so-called dynamism of economics emerges from the evolution of stock variables across time, thus generating flows. Time is a scarce resource and hence requires preferential allocation across our desires so as to produce demands.
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