The fundamental aspect of measurement, that a measurement always results in a record, is analysed. Recording implies irreversibility and entropy production in the combined system of instrument and object. In elementary particle physics the record itself is all important, and therefore the entropy production due to measurement, hitherto neglected in fundamental theories, is essential. The conjecture is advanced that, just as in relativity the signal is of prime importance and in quantum theory the measuring interaction is fundamental, this (third) aspect of measurement will play a central role in a new fundamental theory of elementary particles. Some basic notions of this new theory are proposed. The stable particle, for example, can be conceived of as a steady state of an open system, characterized by minimal entropy production. Finally the meaning of irreversibility on the micro-level of elementary particles is discussed.
The outline analyzes the principal difficulties, which emerge at the applying of modern quantum theory based on the Copenhagen School concept to phenomena developed in the range close to 10^{-28} cm (the point of intersection of the three fundamental interactions). It is shown that at this scale, the interaction of a moving particle with space plays an essential role and just space assigns wave and quantum properties to the particle. The main physical aspects of space structure are discussed herein.