How are a thermometer and a stopwatch alike?

Here is a good review article about the nature of time. 

Is time an illusion? - physics-math - 19 January 2008 - New Scientist

With quantum mechanics rewritten in time-free form, combining it with general relativity seems less daunting, and a universe in which time is fundamental seems less likely. But if time doesn't exist, why do we experience it so relentlessly? Is it all an illusion?

Yes, says Rovelli, but there is a physical explanation for it. For more than a decade, he has been working with mathematician Alain Connes at the College de France in Paris to understand how a time-free reality could give rise to the appearance of time. Their idea, called the thermal time hypothesis, suggests that time emerges as a statistical effect, in the same way that temperature emerges from averaging the behaviour of large groups of molecules