For each movement of modernity, there has developed a comprehensive counternarrative. The idea that modernity is associated with the secularization of our institutions has given rise to fears about the rationalization and "disenchantment" of the world; the rise of a market economy and the commercial republic gave way in turn to an antibourgeois mentality that would find expression in politics, literature, art, and philosophy; the idea of modernity as the locus of individuality and free subjectivity gave rise to concerns about homelessness, anomie, and alienation; the achievements of democracy went together with fears about conformism, the loss of independence, and the rise of the "lonely crowd"; even the idea of progress itself gave rise to a counterthesis about the role of decadence, degeneration, and decline.

— Steven Smith, Modernity and Its Discontents

That fantastic has always borrowed enthusiastically from premodern folklore, fairy tales, and myth, of course. Fantasy as a genre is a modern literature, however, born primarily out of Gothic, a kind of bad conscience of the burgeoning 'instrumental rationality' of capitalist modernity. 'The dream of reason,' as José Monléon persuasively points out (quoting the title of Goya’s famous picture), 'brings forth monsters.’ In essence, for fantasy to be fantasy, to break down the barriers that were keeping the irrational at bay, society first had to construct those barriers and thoroughly embrace the supposedly ‘rational.’”

— China Miéville, from his introduction to H. P. Lovecraft’s At the Mountains of Madness