PaceZagzebski, there is no route from the value of knowledge to a non–reliabilist virtue–theoretic epistemology. Her discussion of the value problem is marred by an uncritical and confused employment of the notion of a “state” of knowledge, an uncritical acceptance of a “knowledge–belief” identity thesis, and an incoherent presumption that the widely held thought that knowledge is more valuable than true belief amounts to the view that knowledge is a state of true belief having an intrinsic property which a state (...) of ‘mere” true belief lacks. Her arguments against a “machine–product” conception of knowledge are undermined by these flaws, while the alternative “agent–act” model she recommends is unattractive, at odds with the knowledge–belief identity thesis she favours, and no solution to the problem of the value of knowledge she poses. I end with the observation that her version of virtue–theoretic epistemology points in the direction of cognitive decision–theoretic norms, and I briefly discuss the bearing of this fact upon her viewpoint. (shrink)