I read somewhere (don't recall exactly where) that your sense of the passage of time is directly related to how much things change because that impacts how many memories you form. Essentially, when every day is the same, not many new memories are created, so you don't notice time passing (New Years was just a few weeks ago, how can it be July already!), but when things are constantly changing, time passes much more slowly. When you're a child and non-stop learning and exploring, 3 months seems like an eternity.

I wonder if technology development has a similar effect. When the world essentially remains unchanged for your entire life, things must seem much faster with days blending together.