  Recent attempts to detect the pion polarizability via analysis of
$\gamma\gamma\rightarrow\pi\pi$ measurements are examined. The connection
between calculations based on dispersion relations and on chiral perturbation
theory is established by matching the low energy chiral amplitude with that
given by a full dispersive treatment. Using the values for the polarizability
required by chiral symmetry, predicted and experimental cross sections are
shown to be in agreement.
