In an essay on Michel Leiris that appeared in 1947 he declared that the point of writing is not self-expression but meeting risks that will change the writer. This process of change is far from straightforward: Blanchot insists that the experience literature makes available is essentially deceptive, and that its value is constituted in that. How is literature deceptive? In many ways, but consider this example. A writer might be perfectly sincere when composing a poem and it might show, yet his or her sentiment can end up appearing comic when read by another. (As André Gide sharply noted, all bad literature is made of fine sentiments.) Another writer might be insincere, doing no more than following a convention when composing, yet he or she might be praised for the authenticity of what is offered to the public. In writing, one can lose certainties that seemed to be firmly in place before picking up a pen. Writers frequently tell stories about having learned from their writing. ‘Before I wrote that story, I thought I believed in happy endings,’ a novelist might say, ‘but in following my characters right to the end I realize that I am not as optimistic as I thought I was.’ (In outline, the claim is not a new one: St Augustine testifies in one of his letters that he comes upon new ideas only by writing.) Also, Blanchot thinks, in writing one can discover something that it is impossible ever to lose. One can risk finding oneself placed in relation to that which has no meaning and no world. It is this eerie thought that preoccupied him over his long life, and one that we need to understand. We can best do so by examining his theory of the imaginary.