Abstract
The pessimistic induction argument, most often associated with Larry Laudan, is now widely considered to be one of the main obstacles for realism. Put simply, the argument holds that since past predictively successful scientific theories have eventually been discarded, we have inductive evidence that our current theories will also be discarded one day. More precisely, Laudan undermines the inference from the explanatory and predictive success of a theory to its approximate truth and referential success. This paper criticises a particular kind of realist reply to Laudan.