Nietzsche’s interest in tragedy continues throughout his work. And yet scholarship on Nietzsche’s account of tragedy has focused almost exclusively on his first book, The Birth of Tragedy – a work which is in many ways discontinuous with his more mature philosophical views. In this paper, I aim to illuminate Nietzsche’s post-Birth of Tragedy views on tragedy by setting them in the context of a particular historical conversation. Ever since Plato banished the tragic poets from the kallipolis, various philosophers have (...) attempted to respond to his challenge to offer a ‘defense of poetry’. What Nietzsche offers, I argue, is a distinctive form of response to Plato’s challenge. I show how Nietzsche takes seriously Plato’s worries, and even ends up in partial agreement with him: tragedy is not (unqualifiedly) valuable; it can be spiritually dangerous. Key to Nietzsche’s account is a distinction he draws between two types of tragic audience. For the ‘lower types’, tragedy is – as Plato feared – dangerous. For the ‘higher types’, however, tragedy can act as a regenerative force. Finally, I discuss a distinctive form of value that tragedy makes available to a modern audience: tragedy can act as a stimulus towards the process of the revaluation of values. (shrink)