The paper reviews changes in core values of American society from 1876-1976 from a perspective of changes in allocation of time between work and nonwork. According to the author, core values motivate and direct people in a society. An historical review of sociological literature indicates a late 20th century trend away from the Protestant Work Ethic toward an increase in amount of time spent on leisure pursuits. This new ethic is reflected by social discontinuity and experimentation, as indicated by increased alienation, apathy, violence, and a decline in the authority of institutions. Explanations of discontinuity, social change, and the Protestant Work Ethic are analyzed for their contribution to the demise of the traditional American ethic. Examination of current lifestyles indicates that mass consumption and demand for creative and communal fulfillment are frequent aesthetic-ethical responses to social change. The conclusion is that the core values of American society now revolve around a leisure ethic which incorporates personal gratification, satisfaction in interpersonal relations, and an appreciation of nature. The author suggests that additional research is needed which will investigate whether this ethical pattern exists and is of a permanent nature. (Author/DB)