Economic Rationales and a Wealth of Time: in pursuit of a new economy of time.

Time in modem economics is treated either as money or as a resource. Time is scarce and as such it is economically rational to save it. The economic approach to time ensures the acceleration of economic processes. This in turn damages the reproductive cycles of social life and the natural environment. This paper argues that a future sustainable economy must be based on a new understanding of time. It must care for and protect socio-environmental needs for more lime, for time cycles and for rhythms. The development of such a 'new economy of time' requires a broader concept of economic rationality. With this goal in mind, the traditional economic approaches to time are criticized and five aspects of a 'new' economy of time discussed. Finally, the question of the constructors of the 'new economy of time' is raised. [ABSTRACT FROM AUTHOR]