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In "Future Generations: Further Problems," and Part Four of Reasons and Persons, Derek Parfit raises many perplexing questions. Although some think his ingenious arguments little more than delightful puzzles, I believe they challenge some of our deepest beliefs. In this article, I examine some of Parfit's arguments, focusing mainly on "The Mere Addition Paradox." If my analysis is correct, Parfit's arguments have extremely interesting and important implications that not even Parfit realized.