Novelty theory attempts to calculate the ebb and flow of novelty in the universe as an inherent quality of time. It is an idea conceived of and discussed at length by Terence McKenna from the early 1970s until his death in the year 2000.
Novelty theory involves ontology, morphogenesis and eschatology (the “end of time”). Novelty, in this context, can be thought of as newness, density of complexification, and dynamic change as opposed to static habituation. According to McKenna, when “novelty” is graphed over time, a fractal waveform known as Timewave Zero.
The graph shows at what times, but never at what locations, novelty is increasing or decreasing. According to the Timewave graph, great periods of novelty occurred about 4 billion years ago when Earth was formed, 65 million years ago when dinosaurs were extinguished and mammals expanded, 10,000 years ago after the end of the Ice Age, the late 18th century when social and scientific revolutions progressed, during the 1960s, during the time of 9/11, and with coming novelty periods in November 2008, October 2010, with the novelty progressing towards the infinity on 21st December 2012. –Wikipedia