This article applies E. H. Carr’s analysis of utopia and reality, and a Searlean-constructivist analysis of rules and norms, to the concept of ‘sovereignty’ in general, and Stephen Krasner’s argument in Sovereignty: Organized Hypocrisy in particular. In doing this, the article charts a theoretical space that incorporates insights from classical realism, scientific realism, and philosophical (social) constructivism. To view ‘utopia’ and ‘reality’ as distinct yet equally important planes of International Relations (IR) inquiry, thereby treating ‘sovereignty’ as a single concept with descriptive and normative elements, highlights both the merits and the shortcomings of Krasner’s approach. Furthermore, this type of analysis suggests a fruitful way to continue a contemporary normative discussion about what sovereign entities ought to do.