Then we are met by the so-called _ethical_ interpretation of mythology, seeking its origin in man’s peculiar nature, especially in a moral point of view. The advocates of this theory claim that mythology is a mere fiction created to satisfy man’s spiritual, moral, and emotional nature. The gods according to this interpretation represent man’s virtues and vices, emotions, faculties of mind and muscle, etc., personified. Odin, they say, is wisdom; Balder is goodness; Thor is strength; Heimdal is grace, etc. Again: Thor is the impersonation of strength and courage; the giants represent impotent sloth and arrogance; the conflicts between Thor and the giants are a struggle going on in the human breast. And again: the mischief-maker Loke instigated the blind Hoder to kill the good Balder; Nanna, Balder’s wife, took her husband’s death so much to heart, that she died of grief; Hoder is afterwards slain by Odin’s son Vale; all nature weeps for Balder, but still he is not released from Hel (hell). That is, physical strength with its blind earthly desires (Hoder), guided by sin (Loke), unconsciously kills innocence, (Balder). Love (Nanna) dies broken-hearted; reflection (Vale) is aroused and subdues physical strength (Hoder); but innocence (Balder) has vanished from the world to remain in Hel’s regions until the earth is regenerated, after Ragnarok. The ethical interpretation makes the gods the faculties of the spirit, and the giants the faculties of the body, in man; and between the two, soul and body, there is a constant struggle for supremacy. This interpretation is very good, because it is very _poetic_, but it has more to do with the application of the myths than with their primary source.