Final answer:
Romanticism was a European literary and artistic movement that valued emotion, freedom, and individual imagination. It emphasized the irrational, unconscious, legendary, and mythical, as well as the folk cultures.
Step-by-step explanation:
The name for the European literary and artistic movement that involved new valuations of the 'irrational,' the 'unconscious,' and the 'legendary' or 'mythical' alongside new valuations of the folk-cultures is Romanticism. Romanticism was an artistic, literary, and intellectual movement that originated in Europe in the late 18th century and reached its peak around 1800 to 1840. It emphasized emotion, freedom, and individual imagination, going beyond the rational and Classicist ideal models. It valued nature, feelings, and a sense of nostalgia for the past.