A very complete discussion:
http://www.newscientist.com/article/mg22029410.900-saving-time-physics-killed-it-do-we-need-it-back.html?page=1#.VMvWAGA5C1s-Fantastical as it seems, for most physicists today the universe is just like that. We might think of time flowing from a real past into a not-yet-real future, but our current theories of space and time teach us that past, present and future are all equally real - and fundamentally indistinguishable. Any sense that our "now" is somehow special, or that time flows past it, is an illusion we create in our heads 
Physics, in fact, has killed time as we know it. The question is: do we need it back?-Several approaches. Which if any is correct?