The Original Time Approach of Georgescu-Roegen

Abstract

In this paper, we analyze the original time approach of Georgescu-Roegen. Our main argument is that, to Georgescu-Roegen, time in economics is a plurichromatic concept. While recognizing both logical and historical time, he defended historical time from an open-system and dialectic perspective. Historical time is the only concept compatible with thermodynamic laws, especially the entropy law. It also leaves space for all historical events and human activities in their living environment which is the biosphere. Georgescu-Roegen developed an original approach of time that reconciles natural and social sciences in an evolutionary framework. Time is the stream of conscioussness, an unidirectional flow that drives irrevocable changes.

Keywords

• Georgescu-Roegen (Nicholas)
• time
• open systems
• thermodynamics
• dialectics