The article focuses on the philosophical aspect of the third part of the novel The Sleepwalkers (Die Schlaf-wandler, 1930-1932) by Austrian writer Hermann Broch (1886-1951). Broch’s views were shaped by Austrian literary impressionism; in his youth, Broch was also much influenced by Otto Weininger, admired Karl Kraus and Sigmund Freud. In Broch’s later works, researchers discover the legacies of Plato and Leibniz and claim that these philosophical schools were typical reference points for the Austrian thought. Analysis of literary works can help gain a better understanding of Austrian philosophy of the inter-war period. Not only do Broch’s novels mirror the versatile spiritual life of that period but they also show the development of a whole range of philosophical ideas and concepts. The style and language of The Sleepwalkers reflect the experimentation with new modes of expression in art as well as the author’s own attempts to create a new language and way of philosophizing in contrast to positivism. In the third part of the novel, Broch shows how difficult is the existence of a person who has lost their faith and the ability to comprehend complex metaphysical matters. The article outlines Broch’s vision of the new tasks that literature is facing in the conditions of the moral crisis he describes. Broch was mostly interested in axiological issues, around which he builds his novel. He also includes in his text extended philosophical interludes about the role of religion in the development of value orientations of his contemporaries. A special emphasis in the article is made on the concept of Sachlichkeit - practicality, which is also discussed by Karl Jaspers in his book The Spiritual Condition of the Age (Die geistige Situation der Zeit, 1932).