The theory of relativity, particularly Special Relativity, asserts that the laws of physics are the same in all non-accelerating frames and that the speed of light is constant. Time dilation occurs when an observer moves close to the speed of light; their clock runs slower compared to a stationary observer's clock. This means that while the traveling observer experiences less passage of time, they perceive the stationary observer's time as moving faster. The discussion also touches on the complexities of accelerated reference frames, noting that they do exist and can be analyzed within the framework of relativity. Understanding these concepts requires a deeper study of relativity and its implications on time and space.