 On the other side of the spectrum, those who view reduction in terms of real world entities rather than theories would not claim that statements of the form ‘a reduces to b’ are always false when the instances of ‘a’ and ‘b’ designate theories, and true only when they designate properties, or parts and wholes. Rather, they would hold that claims about theory-reductions are derivative upon claims about property-reductions or that the notion of theory reduction depends upon a notion of property reduction in a more ontological sense. Thus if folk-chemistry reduces to chemistry, it does so because water reduces to H2O, and because Iron reduces to Fe, and so on.