In this essay, theories of economics, regional development paradigm and location theories have been evaluated according to theoritical aspects, transformation of time and space concepts from 18th century to nowadays. On the other hand, economical theories such as Mercantilist, Physiocracy, Classical Economic Theory, Keynesian Theory of Economics, New Keynesian Theory and New Classical Economic Theory; regional development theories such as Rosenstein-Rodan (Big Push Theory), Perroux (Growth Poles Theory); location theories such as von Thunen, A. Weber, Christaller, Losch, W. Isard and P. Krugman's are handled with as a conceptual and periodical review. With the beginning of the "Information Age" (Industrie 4.0), espacially last three decades, discussions on conceptual transformation of time and space by Manuel Castells' are commented in the context of the meanning of time and space concepts, transformation of conceptual usage in the periodical processes.