The Riddle of the Sphinx The study of myths probably began in the 4th century. BC. when Euthemerus explained them as exaggerated adventures of historical individuals. The allegorical interpretation of myths , stemming from the 18th century study , says that at one time myths were invented by wise men to point out a truth, but after a time myths were taken literally. The linguistic corruption interpretation says that myths could be understood as allegory for events found in nature. The Jungians school denoted myths as a mechanism of wish fulfillment. Sir James Frazer, believed that all myths were originally connected with