From The Art and Popular Culture Encyclopedia
Modern mythology refers to 20th or 21st century mythologies.
Mythology is alive and well in the modern age through urban legends, New Age beliefs, certain aspects of religion and so forth. In the 1950s Roland Barthes published a series of essays examining modern myths and the process of their creation in his book Mythologies. Swiss psychologist Carl Jung (1873-1961) and his followers also tried to understand the psychology behind world myths.
In popular culture
Film and book series like Star Wars and Tarzan have strong mythological aspects that develop into deep and intricate philosophical systems. These items are not mythology, but contain mythic themes that, for some people, meet the same psychological needs.
Also worth mentioning is the P-Funk mythology.
Mythopoeia is a term coined by J. R. R. Tolkien for the conscious attempt to create myths; his Silmarillion was to be an example of this, although he did not succeed in bringing it to publication during his lifetime. C. S. Lewis, shared his views of myths as expressing fundamental truths.
The Hero with a Thousand Faces by Joseph Campbell
Also, it is worth mentioning Joseph Campbell's The Hero with a Thousand Faces (1949), a non-fiction book, and seminal work of comparative mythology. In this publication, Campbell discusses his theory of the journey of the archetypal hero found in world mythologies.
Mythologies by Barthes
Myth and modern science
Many twentieth-century theories of myth rejected the nineteenth-century theories' opposition of myth and science. In general, “twentieth-century theories have tended to see myth as almost anything but an outdated counterpart to science […] Consequently, moderns are not obliged to abandon myth for science.” (Segal)
Swiss psychologist Carl Jung (1873-1961) and his followers also tried to understand the psychology behind world myths. Jung argued that the gods of mythology are not material beings, but archetypes — or mental states and moods — that all humans can feel, share, and experience. He and his adherents believe archetypes directly affect our subconscious perceptions and way of understanding. Following Jung, Joseph Campbell believed that insights about one’s psychology, gained from reading myths, can be beneficially applied to one’s own life.
Like the psychoanalysts, Claude Levi-Strauss believed that myths reflect patterns in the mind. However, he saw those patterns more as fixed mental structures—specifically, pairs of oppositions (e.g., raw vs cooked, nature vs culture)—than as unconscious feelings or urges.