Abstract
The Swamping Problem is one of the standard objections to reliabilism. If one assumes, as reliabilism does, that truth is the only non-instrumental epistemic value, then the worry is that the additional value of knowledge over true belief cannot be adequately explained, for reliability only has instrumental value relative to the non-instrumental value of truth. Goldman and Olsson reply to this objection that reliabilist knowledge raises the objective probability of future true beliefs and is thus more valuable than mere true belief. I argue against their proposed solution to the Swamping Problem that the conditional probability of future true beliefs given knowledge is not clearly higher than given mere true belief.