This is chapter 5 of the book project _The true and the good: a new theory of theoretical reason_, in which I explore the claim that both alethic and pragmatic reasons for belief are basic, but that they share a pragmatic foundation in a pluralist theory of wellbeing in which being in a positive epistemic state is a non-derivative component of wellbeing. This chapter argues that all three of fittingness first, reasons first, and value first views are false. It does so by showing that fittingness and reasons both have unalike variance conditions with respect to value, i.e. that sometimes the value of something can switch from good to bad or bad to good without there being any change in whether it is fitting to favour it or whether there are...