diff --git a/gnu/packages/time.scm b/gnu/packages/time.scm
index 58055cd13e..e390445fdd 100644
--- a/gnu/packages/time.scm
+++ b/gnu/packages/time.scm
@@ -2,6 +2,7 @@
 ;;; Copyright © 2012 Nikita Karetnikov <nikita@karetnikov.org>
 ;;; Copyright © 2013 Ludovic Courtès <ludo@gnu.org>
 ;;; Copyright © 2017 Ben Woodcroft <donttrustben@gmail.com>
+;;; Copyright © 2017 Efraim Flashner <efraim@flashner.co.il>
 ;;;
 ;;; This file is part of GNU Guix.
 ;;;
@@ -29,7 +30,7 @@
 (define-public time
   (package
     (name "time")
-    (version "1.7")
+    (version "1.8")
     (source
      (origin
       (method url-fetch)
@@ -37,20 +38,8 @@
                           version ".tar.gz"))
       (sha256
        (base32
-        "0va9063fcn7xykv658v2s9gilj2fq4rcdxx2mn2mmy1v4ndafzp3"))))
+        "06rfg8dn0q2r8pdq8i6brrs6rqrsgvkwbbl4kfx3a6lnal0m8bwa"))))
     (build-system gnu-build-system)
-    (arguments
-     '(#:phases
-       (modify-phases %standard-phases
-         (replace 'configure
-           (lambda* (#:key outputs #:allow-other-keys)
-             ;; This old `configure' script doesn't support
-             ;; variables passed as arguments.
-             (let ((out (assoc-ref outputs "out")))
-               (setenv "CONFIG_SHELL" (which "bash"))
-               (zero?
-                (system* "./configure"
-                         (string-append "--prefix=" out)))))))))
     (home-page "https://www.gnu.org/software/time/")
     (synopsis "Run a command, then display its resource usage")
     (description