I don&#x27;t say that having abstract theories is bad, after all one of the most successful theories in Physics, general relativity, was formulated without much data or even experimental hints to work with. The difference is that this theory was later put to scrutiny by performing experiments and by observing natural phenomena (e.g. light bending by gravity), which have failed to falsify the theory so far.<p>So what I&#x27;m saying is that a theory that cannot be falsified experimentally is not very useful.<p>The real danger here is that these theories -most of which are supported by no or very slim experimental evidence- are used by governments to formulate economic policies, which in turn affect the life of millions or billions of people. For me, this is a bit like developing an &quot;idealized&quot; theory of nuclear physics and then trying to build a nuclear power-plant based on it. I, personally, would not want to live near one of these ;)