Mystery of Time Resolved?

After millennia of inquiry by most able scientists the concept of time still harbours mystery, which is the theme of these recent podcasts: 

• David Albert: A Masterclass on Time's Arrow
• What is Time? Stephen Wolfram's New Groundbreaking Theory

We all experience that time moves forward from a past over a now to a future, named as the Arrow of Time or 2nd Law of Thermodynamics. Why does our life always move forward to a new day, never rewind to yesterday? Why are our lives irreversible? 

In terms of physics the question can be formulated as follows:

• Why can a macroscopical system based on reversible microscopical physical laws, be irreversible? 

Ludwig Boltzmann took on the challenge in the late 19th century opening the door to modern physics and after much struggle came up with an explanation in terms of statistics as a form of statistical mechanics based on Newtonian mechanics augmented with the throw of a dice. Forward motion of time is here favoured by being more probable than backward motion thus showing an Arrow of Time, as discussed by David Albert.

Stephen Wolfram presents another explanation in terms of computational irreducibility.

My own explanation exposed in detail on this blog, connects to Wolfram's in the sense that physics as computation is given preference, rather than the conventional view based on exact laws of physics. The basic idea is:

1. A physical system changes from one state to a next state through a computational process, which has finite precision and so involves some destruction of information (chopping of decimals).
2. If the complexity of the system increases under repetition of the process, the loss of information will be so big that reversal of is impossible.
3. A prime example is the development of turbulence in laminar fluid flow, which is irreversible. The laminar state cannot be recovered from the turbulent.  

For a popular exposition of this idea see The Clock and the Arrow.