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We analyze the place of theory in psychoanalysis, which, in Freud’s view, constitutes one of the pillars of the psychoanalyst’s training, but which also has an active role within the practice of psychoanalysis. The place of theory in psychoanalysis, particularly in its relationship to its practice, differs from the use of theory in medicine and psychology, especially because, in the discipline invented by Freud, theory is distinguished from knowledge.