Thesis S5 is the right logic for metaphysical necessity
Where it stands
Here is a view I hold about modal logic and want tested.
S5 says: whatever is possible is necessarily possible, and whatever is necessary is necessarily necessary. In Kripke's terms, every world is accessible from every other. For metaphysical necessity (what could and could not have been, given the natures of things) this seems right. Possibility of that kind doesn't depend on where you stand. If it is possible that I had been a carpenter, that possibility was not created by the actual world and could not be removed by a different one.
Most working metaphysicians assume S5 without comment. Williamson defends it explicitly, along with some more controversial commitments I won't defend here.
The objection I take most seriously comes from essence and tolerance. A table could have been made from slightly different wood, but not from entirely different wood. Chain enough "slightly different" steps and accessibility seems to stop being transitive, which breaks S4 and therefore S5.
I think that objection fails, but I'd like to hear it put better than I can put it. And I'd like to hear from anyone who thinks the choice of modal logic has consequences outside logic.