Fictionalism has recently returned as a standard response to ontologically problematic domains. This article assesses moral fictionalism. It argues (i) that a correct understanding of the dialectical situation in contemporary metaethics shows that fictionalism is only an interesting new alternative if it can provide a new account of normative content: what is it that I am thinking or saying when I think or say that I ought to do something; and (ii) that fictionalism, qua fictionalism, does not provide us with (...) any new resources for providing such an account. (shrink)