The study of traditional ecological knowledge is hampered by the existence of several, often contradictory, myths about traditional peoples. This chapter addresses the Exotic Other, and deals with some of the limitations of indigenous knowledge. It discusses the Intruding Wastrel, by focusing on the question of ancient extinctions and building a cultural evolutionary perspective to distinguish between invaders and natives. It deals with Noble Savage/Fallen Angel through the debate concerning the differences between Western and indigenous worldviews of conservation and the notion of wilderness. The chapter presents how systems of knowledge and practice can be transformed or hybridized. It also focuses on adapting traditional systems to the contemporary context, and its significance for developing sustainable local economies with which indigenous peoples can make a living in the globalize world. The chapter examines the evolution of notions of conservation and traditional knowledge systems.