Even the new realists are not content to take their realism as a plea for approaching subject-matter directly instead of through the intervention of epistemological apparatus; they find it necessary first to determine the status of _the_ real object. Thus they too become entangled in the problem of the possibility of error, dreams, hallucinations, etc., in short, the problem of evil. For I take it that an uncorrupted realism would accept such things as real events, and find in them no other problems than those attending the consideration of any real occurrence--namely, problems of structure, origin, and operation. It is often said that pragmatism, unless it is content to be a contribution to mere methodology, must develop a theory of Reality. But the chief characteristic trait of the pragmatic notion of reality is precisely that no theory of Reality in general, _ueberhaupt_, is possible or needed. It occupies the position of an emancipated empiricism or a thoroughgoing naive realism. It finds that "reality" is a _denotative_ term, a word used to designate indifferently everything that happens. Lies, dreams, insanities, deceptions, myths, theories are all of them just the events which they specifically are. Pragmatism is content to take its stand with science; for science finds all such events to be subject-matter of description and inquiry--just like stars and fossils, mosquitoes and malaria, circulation and vision. It also takes its stand with daily life, which finds that such things really have to be reckoned with as they occur interwoven in the texture of events. The only way in which the term reality can ever become more than a blanket denotative term is through recourse to specific events in all their diversity and thatness. Speaking summarily, I find that the retention by philosophy of the notion of a Reality feudally superior to the events of everyday occurrence is the chief source of the increasing isolation of philosophy from common sense and science. For the latter do not operate in any such region. As with them of old, philosophy in dealing with real difficulties finds itself still hampered by reference to realities more real, more ultimate, than those which directly happen.