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In this work, Alexander Schnell expounds the role played by the formation and conferral of sense in our understanding of »reality« and »matters of fact«. Starting from the phenomenological standpoint of consciousness analysis, he tries to show how the power of imagination in particular serves as a formative function for reality. Picking up on important phenomenological concepts - such as sense, the grounding of knowledge, the unconscious, reality, truth, time, space, the human, subjectivity, transcendence - the author deals with these anew. The volume thereby also contributes to the reinvigorated realism-idealism debate of recent years in which phenomenology - more than a hundred years after its inception - has yet again been awarded a key role.