Conrad Blog:

Time > People

According to the OED, the most commonly used noun in the English language is "time." "Person" came in at #2. The method for figuring this out was for OED people to look on the internet at newspapers, blogs, fictions, and journals... Which doesn't seem very scientific or accurate. Failing to take into account spoken language seems like it would be a big deal. Anyway, here's a bbc article on it.