Effort syndrome is an entity in danger of being subsumed into "chronic fatigue syndrome" and lost to sight. Its distinctive feature is the reduction of the anaerobic threshold for work by depletion of the body's alkaline buffering systems through hyperventilation. This article describes the history and clinical features of effort syndrome and reports a study in which capnography is used to identify the anaerobic threshold by registering the respiratory response to the onset of metabolic acidosis. The patients' thresholds are low, and provide a goal for rehabilitation. In other forms of chronic fatigue syndrome, the pathogenesis and logic of therapy are unclear.