If the problem of induction were soluble, it should be solved inductively: by observing how scientists observe, etc. The fact is that scientific research is successful, and the real question is, will it be so in future? If there is a formula of induction by which success is achieved, then by this formula we can say, as long as it will be used science will succeed. If there is no formula it looks as if future success in scientific research is most doubtful. Hence, a transcendental argument for induction goes, there is an inductive formula. Since, however, such a view of induction is rejected even by inductivists as naive, the argument collapses. Hence the question is, on what basis do we project the future success of science? My answer is that this future success is built into our social institutions and is partially institutionally safeguarded.