The other thing about the Nights is that it is quite racist. One parentheses is that I think this is one of the negative things that appeal to people, that The Arabian Nights could be used as a disguise for racism. It suited the West. You could smuggle racism into children's literature, you see. The African magician in the story of Aladdin, he's labeled explicitly as the "African Magician." He's not a character but a stereotype, and a lot of this got into nursery literature in this Oriental disguise.

There's a whole slew of wonderful speculation of flying in a fanciful way. Gulliver is one of the central examples; Swift has the hum of Arabian Nights in his ear with Gulliver's Travels. The difference is in scale - Gulliver as a kind of Sinbad kind of figure, the way he is picked up and carried. Just to finish up with Scheherazade, I do think that The Arabian Nights could be considered as a great book on women's position in the world.

I do think that this represents a kind of shift towards myth, a recovery of myth, largely through the popularity of writers like Philip Pullman. Somehow myths have returned as a serious subject. It used to be scorned...really scorned. It was part of a nursery tradition, and it was also rather tainted - but not in an immovable way - by the association with right-wing ideologies after the World Wars.

I think that a true economics thinker or a Marxist thinker would make nonsense of my argument, although I have given massive seminars and no one has demolished it so far. I did think that this idea from an artisanal and trading perception of the auratic quality of goods when they are given character and inscription, made the stories of phantasmic wealth read more powerfully in the 18th and 19th centuries than the stories of Cinderella's wealth, because they are conjured out of nothing by these magic means.

I do not think commodities are taken for granted. One of the convergences in time I noticed, and to me seemed very important, was the emergence of paper money. There had been permissionary notes, exchanging money by writing it, but there was no duplicated form of guaranteeing an exchange.