The Thermodynamic Nature of Time and Economic Income

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The definition of time formulated by Isaac Newton was created in the 17th century, so naturally it could not refer to thermodynamics, which significantly influences thinking about time. The essential content of the definition is the statement that time is absolute and flows uniformly independent of all events. This paper modifies this definition of time by pointing out that time is a manifestation of a thermodynamic process, it flows uniformly, at a rate determined by a suitable natural constant. The constant has a value of 0.08 [1/year] and indicates the natural, mathematical connection of the passage of time with the cyclic motion of the planet Earth, and therefore with the calendar. The thermodynamic process involves the transformation of the primary energy of modern man’s life into his human capital, i.e., his ability to act and perform useful work. The term presented is conciliatory to the natural and economic sciences. The constant of the passage of time also plays an inalienable role in understanding capital and its periodic growth or profit. In considerations, entropy is consistently seen as a transformation of energy, so the constant discovered with the theory of measuring personal human capital turned out to be a measure of the passage of time.

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