Constantin Caratheodory offered the first systematic and contradiction free formulation of thermodynamics on the basis of his mathematical work on Pfaff forms. Moreover, his work on measure theory provided the basis for later improved formulations of thermodynamics and physics of continua where extensive variables are measures and intensive variables are densities. Caratheodory was the first to see that measure theory and not topology is the natural tool to understand the difficulties (ergodicity, approach to equilibrium, irreversibility) in the Foundations of Statistical (...) Physics. He gave a measure-theoretic proof of Poincaré's recurrence theorem in 1919. This work paved the way for Birkhoff to identify later ergodicity as metric transitivity and for Koopman and von Neumann to introduce spectral analysis of dynamical systems in Hilbert spaces. Mixing provided an explanation of the approach to equilibrium but not of irreversibility. The recent extension of spectral theory of dynamical systems to locally convex spaces, achieved by the Brussels–Austin groups, gives new nontrivial time asymmetric spectral decompositions for unstable and/or non-integrable systems. In this way irreversibility is resolved in a natural way. (shrink)