In the first paragraph of the paper, I aim to show the semantic richness and at the same time the ambiguity of the notion of imagination. I therefore try to show how the notion of imagination tends to be distinguished from that of fantasy. In the second section, I briefly reconstruct the characteristics of Einbildungskraft in Kantian reflection and compare them with the notions of Bildungskraft and Phantasie in the work of Jean Paul Richter. While for Kant, fantasy is mostly disconnected from sensible reality and thus proves to be an unreliable faculty from a gnoseological point of view, for Jean Paul Richter it represents the most fertile and creative cognitive faculty. This romantic conception of the Phantasie is taken up in aesth...