Abstract
We discuss the conceptual ideas underlying the Asymptotic Safety approach to the nonperturbative renormalization of gravity. By now numerous functional renormalization group studies predict the existence of a suitable nontrivial ultraviolet fixed point. We use an analogy to elementary magnetic systems to uncover the physical mechanism behind the emergence of this fixed point. It is seen to result from the dominance of certain paramagnetic-type interactions over diamagnetic ones. Furthermore, the spacetimes of Quantum Einstein Gravity behave like a polarizable medium with a "paramagnetic" response to external perturbations. Similarities with the vacuum state of Yang-Mills theory are pointed out.
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