As a Tolkien and fairy tale fanatic, I can’t believe I’ve never read this essay until now! I highly recommend it to fellow fantasy writers. I especially love what Tolkien has to say about the denouement of a fairy tale or fantasy story.
“Far more powerful and poignant is… a serious tale of Faerie. In such stories when the sudden ‘turn’ comes we get a piercing glimpse of joy, and heart’s desire, that for a moment passes outside the frame, rends indeed the very web of the story, and lets a gleam come through.”