An article from DiscoverMagazine
online. Heavy stuffs there but interesting read. 
The possibility that time may not
exist is known among physicists as the problem of time. It may be
the biggest, but it is far from the only temporal conundrum. Vying
for second place is this strange fact: The laws of physics dont
explain why time always points to the future. All the lawswhether
Newtons, Einsteins, or the quirky quantum ruleswould work
equally well if time ran backward. As far as we can tell, though,
time is a one-way process; it never reverses, even though no laws
restrict it.