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This raises what I think is an important question. We have two kinds of global time both of which are applicable to cosmology.
We have some people (Rovelli, Connes, Smerlak and possibly others) who are interested in thermal time.
We have some other people (Smolin, Ellis, Chiou, Geiller and numerous previous authors) with an interest in unimodular time.
Are the two concepts in any way compatible?
And it is even more interesting, because cosmologists already have a global time which they use. The Friedmann model (standard in cosmo, the basis of the prevailing LambdaCDM model) has a natural foliation into spacelike hypersurfaces. You can think of this as based on observers who are at rest in the Hubble flow, or with respect to ancient matter---the source of the CMB---or at rest relative to the Background. They call it by various names: Friedmann time, Universe time... It is the natural global time for working cosmologists, and it functions in the conventional statement of basic mathematical relations like the Hubble Law.
So think about the hypersurface consisting of observers at rest relative Background all of whom measure the same age of the universe, or the same Background temperature (adjusting for different depths in gravitational field, or approximately anyway

Is that global time going to be compatible with either Rovelli's thermal or Smolin's unimodular? By the way Rovelli says YES IT IS, as regards his thermal global time proposal.
He explained that in a popular essay on it posted around 2009. Under assumptions relevant to cosmology, thermal time agrees with Friedmann time--the global "universe time" already used in cosmo models.
Just to keep track of the basic links relevant to this new stage of discussion, here are a few:
http://arxiv.org/abs/1008.1759
Unimodular loop quantum gravity and the problems of time
Lee Smolin
http://arxiv.org/abs/1005.2985
Thermal time and the Tolman-Ehrenfest effect: temperature as the "speed of time"
Carlo Rovelli, Matteo Smerlak
A popular essay which can provide intuitive understanding for TTH:
http://arxiv.org/abs/0903.3832
"Forget Time!"
[In TTH, time is emergent, non-existent at funda level, so in that sense forgetable]
On brief acquaintance I would say this paper could be a handy reference for definitions of terms you see in the appendix at the end of the Rovelli-Smerlak paper.
http://arxiv.org/abs/1007.4094
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