I like this question and have tossed it back and forth before...
My response can be formulated like this:
Tragedy = truth. Comedy = Pleasant Lies.
It seems to me that most of us have a tendency to believe that when we face things that are unpleasant and accept them, we are accepting the truth. The logic goes like this: Because something is unpleasant, in order for us to accept it at all, it must be true. (There may be some passion for nobility in believing that pain is more true than pleasure, which, to me, lends suspicion to this whole tendency.)
Fantasy, on the other hand, is often pleasant. We don't have to work to believe good things about ourselves. We are perfectly willing, in other words, to fool ourselves into thinking we are good people, that we are happy, or that everyone likes us. We are willing because happy thoughts make us feel good and believing them requires no strength of will.
This is erroneous reasoning, of course, and it does not stand the test of logic nor of experience. Yet this reasoning endures.
Personally, as a writer, I have striven to believe that truth is as pleasant as it is unpleasant. Happiness is as real as sadness. And it doesn't matter which takes more strength to accept.