Realism has a bad reputation in contemporary times. Generally thought to be an outdated mode that had its heyday in Victorian fiction, the French bourgeois novel, and pre-revolutionary Russian literature, literary histories tend to locate realism’s timely end in the ferment of interwar modernism and the rise of the avant-garde. Outside of the West, realism might be said to have met an even worse fate, as it was a mode explicitly presented to colonized societies as a vehicle of modernity, in opposition to what were deemed the poetic excesses, irrational temporalities, and/or oral-storytelling influences of indigenous literature. Yet despite this sense of realism’s outdatedness and political conservatism, the first decade-and-a-half of the 21st century has witnessed, across a wide range of literature and cultural production, what might be seen as a return to realism, not simply as a resistance to today’s new culture of heterogeneity and digitization but as a new way of imagining literary and political futures in a world increasingly lacking the clear-cut lines along which politics, history, and capitalism can be imagined. The arc of 21st-century realism can be seen through contemporary debates around the term, suggesting that considering 21st-century realism not as a residual mode or grouping of texts but as a particular perspective on literary futures—as the coming together, for instance, of unresolved and newer conflicts over relations of power and the politics of knowledge—offers a different story of global form making.