This paper investigates the current crisis of literary studies as it is expressed by the transition from literary theory to Theory. Comparing two recent works, which became important references in the debate in the United States, this essay calls attention to the undeniable conceptual progress brought about by Theory, which, however, took place amid an increasing alienation and potential philistinism. This article ends with remarks on how certain theoretical discourses fit into the current academic mode of production - more than ever ruled by quantitative parameters.1015469Luiz Costa (2002) Teoria da literatura em suas fontes, 1. , LIMA, 3 aed. Rio de Janeiro: Civilização Brasileira, 7(DURAO, Fabio Akcelrud. On the rise of Theory: promisses, shortcomings and the place of literature. American British and Canadian Studies, Sibiu (Romênia) v. 8, 2007: 10-21.)Armand, DORFMAN, Ariel (1977) Para ler o Pato Donald: Comunicação de massa e colonialismo, , MATTELART, Trad. Álvaro de Moya. Rio de Janeiro: PazeTerra(DURÃO, Fabio Akcelrud. Breves observações sobre a teoria, suas contradições e o Brasil Revista de Letras, São José do Rio Preto, v. 44, n. 1, 2004: 81-95.)(CULLER, Jonathan. Comment on the Norton Anthology of Theory and Criticism. Symploke 11. 1-2., 2003: 242.)(BOXER, Sarah. How Crit Finally Won Out Over Lit. The New York Times, Nova York, 19 abril. 2001, B, 11.)Hyping the Norton - Comment on the Norton Anthology of Theory and Criticism Symploke, , RICHTER, David, 11. 1-2(BROWN, Marshall. Theory without Method, Criticism without Voice. Pedagogy: Critical Approaches to Teaching Literature, Language, Composition and Culture, Durham, NC, v. 3, n. 3, 2003: 452.)(MARSHALL, Donald G. Shooting Niagara Pedagogy, v. 3, Issue 3, outono 2003: 464)Christian, B., The Race For Theory 2261(Id., Ibid.: 2259.)(Postmodern Blackness: 2482.)(From Blues, Ideology, and Afro-American Literature: A Vernacular Theory)p. 2230(PATAI, Daphne, CORRAL, Will H. Theory's Empire. An Anthology of Dissent. Nova York: Columbia U.P., 2005.)(Donogue, Denis, Ibid.: 111.)Literary Theory and Its Discontents SEARLE, Ibid, 171149(DESCOMBES,'The Quandaries of the Referent, Ibid.: 188-189.)(GOOD, Graham. Presentism. Ibid.: 288-289.)(JACOBY, Russell. 'Thick Aestheticism and ThIn Nativism. Ibid.: 496.)BOGHOSSIAN, P.A., What is Social Construction Ibid.:573(O'CONNOR, Erin.Prefá cio para uma crítica pós-co-lonlal. Ibid.: 298)(SIEGEL, Lee. Queer Theory, Literature and the Sexualization of Everything. Ibid.: 440.)Theory's EmpireSocial Constructionism: Philosophy for the Academic Workplace(Ibid.: 353.)(DURÃO, Fabio Akcelrud. A postmodern paradox. Ipótesi, Juiz de Fora, no prelo.)(WATERS, Lindsay. Enemies of Promise. Publishing, Perishing and the Eclipse of Scholarship. Chicago: Prickly Press, 2004: 7-36.)