The Importance of Theory

The transcript discusses the importance of theory in academic work, emphasizing the need for consistency and coherence. It highlights the challenges of modifying existing theories and the necessity of maintaining a consistent framework. The speaker uses examples from physics to illustrate how concrete elements can be integrated into theories without contradicting foundational principles. The discussion also touches on different economic frameworks and their modifications, stressing the importance of a holistic approach to theory development.

In what way does the speaker suggest that both left and right frameworks operate in their theories?

What does the speaker mean by saying that one cannot throw away an element at a foundational level?