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.1015469