Time and Economics

The Concept of Functional Time

  • Željko Rohatinski

Table of contents

  1. Front Matter
    Pages i-xxiii
  2. Željko Rohatinski
    Pages 1-10
  3. Part I

    1. Front Matter
      Pages 11-12
    2. Željko Rohatinski
      Pages 13-27
    3. Željko Rohatinski
      Pages 29-42
  4. Part II

    1. Front Matter
      Pages 43-43
    2. Željko Rohatinski
      Pages 45-54
    3. Željko Rohatinski
      Pages 55-63
    4. Željko Rohatinski
      Pages 65-71
    5. Željko Rohatinski
      Pages 73-79
    6. Željko Rohatinski
      Pages 81-95
    7. Željko Rohatinski
      Pages 97-113
    8. Željko Rohatinski
      Pages 115-123
  5. Part III

    1. Front Matter
      Pages 125-126
    2. Željko Rohatinski
      Pages 127-144
    3. Željko Rohatinski
      Pages 145-161
    4. Željko Rohatinski
      Pages 163-190
    5. Željko Rohatinski
      Pages 191-202
  6. Back Matter
    Pages 203-259

About this book


This book links the philosophical perception of time and Einstein’s theory of special relativity to economic processes, showing that the phenomena of time dilation and length contraction seen in physics can be identified within – and adapted to – an economic framework. The author expands on Marx’s model of reproduction with the additional variable of time, which is represented as a relative or functional category. In addition to allowing a more precise understanding of both static and dynamic relations between economic systems, this concept examines approaches to time proposed by Smith, Marshall and Keynes, and challenges the equilibrium and disequilibrium economic models. Rohatinski suggests that by understanding the differences in economic activity perceived across different time periods we are better able to influence that activity at micro- and macroeconomic levels. 


Economic activity Economic philosophy Causal relations Horizontal relations Vertical relations Economic categories Economic models Moderate growth Two-sector economy Equilibrium Economic growth Econophysics Economic measures Modalities Internal time measurement External time measurement Economic development Economic processes Time and Economics Functional time

Authors and affiliations

  • Željko Rohatinski
    • 1
  1. 1.ZagrebCroatia

Bibliographic information

  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2017
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-61704-6
  • Online ISBN 978-3-319-61705-3
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking