There was a huge hullabaloo about this in the pages of _Critical Inquiry_ a couple decades ago, beginning with an essay, "Against Theory," by two men whose names I don't remember. My copies of CI are upstairs and I don't feel energetic enough just now to go up and get the issue to find the names and give the exact date. When I first read the issue I was unaware of the whole controversy, and tried to construe the arguments using "theory" as Chuck says he uses it. The issue didn't make sense until I figured out that the quarrel was only about how to construe a text.
Carrol