The main cause of the insufficiency of mainstream economic theories to foresee in adequate explanations of economic behavior is in the maltreatment of time. We will address this fundamental issue by a comparison of the analytical methods of the microeconomic theory of demand and supply with the analytical methods of the Galilean/Newtonian approach of mechanical motion. It is shown that the latter theory like all physical theories differs from the first and from all other mainstream economic theories fundamentally by merely concentrating on the explanation of events in their local and instantaneous context. It is argued that this is the only way of treating time in the correct manner, i.e. as a sequence of events that need to be explained by theory in a logical deductive manner. Mainstream economic analysis fails to answer to that basic requirement of logical deductive analysis. This is reason to confront mainstream economic theory with a novel alternative universal theory of economics, which I have called evolvodynamics for purpose of reference and which analyzes time in its proper setting. The second part of the paper is devoted to presenting an outline of the new theory, which has the perspective and intention of overcoming the limitations of the dogmas of mainstream economic theories
