The category "experience" has played a cardinal role in modern studies of Buddhism. Few scholars seem to question the notion that Buddhist monastic practice, particularly meditation, is intended first and foremost to inculcate specific religious or "mystical" experiences in the minds of practitioners. Accordingly, a wide variety of Buddhist technical terms pertaining to the "stages on the path" are subject to a phenomenological hermeneutic-they are interpreted as if they designated discrete "states of consciousness" experienced by historical individuals in the course of their meditative practice. This paper argues that the role of experience in the history of Buddhism has been greatly exaggerated in contemporary scholarship. Both historical and ethnographic evidence suggests that the privileging of experience may well be traced to certain twentieth-century Asian reform movements, notably those that urge a "return" to zazen or vipassanā meditation, and these reforms were profoundly influenced by religious developments in the West. Even in the case of those contemporary Buddhist schools that do unambiguously exalt meditative experience, ethnographic data belies the notion that the rhetoric of meditative states functions ostensively. While some adepts may indeed experience "altered states" in the course of their training, critical analysis shows that such states do not constitute the reference points for the elaborate Buddhist discourse pertaining to the "path." Rather, such discourse turns out to function ideologically and performatively-wielded more often than not in the interests of legitimation and institutional authority.