'The whole function of philosophy ought to be to find out what definite difference it will make to you and to me, at definite instances in our life, if this world-formula or that world-formula be the true one'. With these words, William James, one of the great minds of American philosophy, captures the power of pragmatism, a theory first developed by Charles S Peirce. This book explores the various theories of truth, meaning, and reality to discover their 'cash value' when implemented. Exactly what happens to our understanding of the world when this or that perspective is adopted? Most important of all, do the proposed theories really work when their principles are put into practice? Unless the consequences of these competing positions are tested, we will never know if any of them can help us to make better sense of the world we live in so that the problems we face as individuals and as a society can be resolved. William James, the leading proponent of pragmatism and chief advocate for critically evaluating theoretical positions vying for our attention, remains a prominent figure in the distinguished history of American philosophy.