Entropy is a measure of energy that is not available to do work. It also has a probablistic interpretation in that it is a measure of disorder. Negative entropy in turn is a measure of order, or information.
The Second Law of Thermodynamics states that the entropy of the universe is always increasing. In otherwords, useful energy is being used up as randomness increases.
Equilibrium is a state of balance. A probablistic interpretation would be a state of maximum disorder, i.e. entropy is maximized.
Time can only exist when thing happen such as when equilibrium is approached. A system at equilibrium is in fact timeless since nothing further can happen.
Living Systems (us) are far from equilibrium. Order is maintained by the energy that flows through the life form
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