How would our understanding of the history of literary theory change if we focused on the seminal essays, rather than the monumental books and monographs? It would surely seem more variegated and provisional, less finished and definitive, more of a process of trying out ideas and defending interests, more motley, confusing, and elusive, a bit like the essay form itself. This chapter examines the rise and fall of theory in the UK inside and outside the academy, beginning with its origins in the British New Left, which looked to continental Europe for intellectual sustenance. It traces the institutional influences and pressures exerted on the essay form as it migrates across the Channel, arguing that while critique could be amenable to the norms of tough-minded knowledge acquisition, the more oblique and personal voice that we associate with essayism has, until recently, often been eschewed in universities.