Taking as its starting point the ‘irrational passion for dispassionate rationality’, so prevalent in Western thought and practice, this paper traces, through the emotions, current debates surrounding the ambivalent nature of modernity as both order and chaos, conformity and transgression. Reason and emotions are not, it is argued, antithetical to one another, rather there is a need to fundamentally rethink existing epistemological models and ontological ways of being and knowing. These issues are traced, on the one hand, through the increasing rationalisation of Western society, the latest expression of which, it is claimed, is a new form of ‘postemotionalism’, and, on the other hand, through the resurgence of more Dionysian values and collective forms of effervescence. The paper concludes with a critical assessment of these contradictory features and the corporeal dilemmas which underpin them, speculating on the ‘fate’ of emotions at the turn of the century in the light of current postmodern theorising.