〈齊物論〉是《莊子》一書中文義最含混晦澀的篇章之一。而在組成本篇的多個段落中，有關指、馬之喻的一段文字尤為眾說紛呈，難有的解。職是之故，拙文試對陳鼓應、唐君毅、牟宗三這幾位代表學者的詮釋作出批判考察，並在此考察的成果上釐清幾個備受忽略的關鍵問題，從而為指、馬之喻建立一更周延、更合理的新詮。

As one of the chapters that is hard to understand in the Zhuangzi, the chapter of Qiwulun, which is commonly translated into On Equalizing Things, is well known for being constituted by a paragraph where Zhuangzi tries to convey some sophisticated message by the zhima zhiyu or the metaphors of ＂finger＂ and ＂horse,＂ which had been involved in numerous interpretations in the long history of Chinese thought. For the purpose of understanding the zhima zhiyu in a much more reasonable way, this article attempts to criticize three typical interpretations held respectively by Chen Guying, Tang Chuni, and Mou Zongsan, by which several neglected aspects of the paragraph are expected to be clarified.