Work time reduction is one of the pending issues in social debate in Korea, and Schor and Cross` notion of ``time and money`` provides an apt framework for analysis on this topic. While increased productivity made possible both increased income and reduction of work time, historically the distribution of productivity gains has been heavily biased toward the former. And behind the win of money over time, according to thinkers like Schor and Cross, is the growth-centered value system and strong consumer culture of modern industrialized society. Such an argument signifies that at the core of the debate of work time reduction is the issue of economic growth rather than such issues as quality of life and work sharing. In other words, while the debate of work time reduction in Korea has focused on the latter issues, the real progress in the reduction of work time could be achieved when we are willing to compromise economic growth. as the most important public objective. Work time reduction, however, does not merely mean some quantitative change in a narrow facet of our life but rather fundamental changes in our actions and values and social institution in general. Social debate of work time reduction should include such considerations.