Page 9 - Azerbaijan State University of Economics

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

this issue does not coincide with the view of many researchers: the recoverability of economic

time is possible! Considering that the economic process itself is cyclic and waved, there is no
need for additional proofs.

The change in society type and transfer to more superior level faster that it is expected
itself is an “acceleration” of the time.

We would like to emphasize certain specifics of the “acceleration” process of the time
based on realized conceptual platform:

The “atomic” structure or unit of the economic time does not exist. At the same time the

metric units for measurement of efficiency of the economic time do not exist and in general
preparation of the assessment methodology for this purpose is practically impossible. The

researches dedicated to the measurement of the efficiency of the economic time came to the

following conclusion: the formation of the best result during the shortest period of time and
obtaining the sustainable situation. The typical approach for the efficiency of the economic time

is the only possible and abstract assessment type existing in modern science.
The wording “the most abstract” makes the verification process impossible.

There is variety of levels within the economic time. From this point of view the specifics

and substance of the economic time on global – national levels, at the same time on national
economic system and its internal elements differs significantly. Thus the variety of the economic

time on the different levels is reflected in the following aspects:
1) The “density” and speed of the economic time is different;

2) The economic time moves in “out of synchronization” way. Thus from economic time

point of view the present, past and the future are moving in different levels and in different ways;
3) The movement of the economic time on global level incurred in random way, while on

the national level it is applicable for “regulation”. The ability for being regulated is increased the
closer the economic time on horizontal direction downside, or in other words when the economic

time approached from the system to subsystem’s elements or approaching to elements of micro-
level. Saying that at the global level the economic time moves in random way does not mean that

the processes there incurred in spontaneously. Its speed, “density” and effectiveness directly

correlated with the competitive forces of the economic centers of the world. Thus it is
“regulated” however not in direct way but by the means of the competition forces. Such kind of

“regulation” only in rare cases can be structures and purposive. The economic time has to fit into

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