To some extent, I agree with Roachboy that the distinction is a false one. Knowledge is gained by doing and by reading; for every theory we have learned, there is a first experience which helps us flesh out our knowledge from theory to practice; and likewise for every action we have ever done unconsciously or without thinking, there is a (at least one) theoretical context, the knowledge of which can immeasurably broaden and deepen our understanding and our ability to function.
Everyone needs both life experience and formal education. There is no getting around it, if one wishes to be a well-rounded, thoughtful individual.
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Dull sublunary lovers love,
Whose soul is sense, cannot admit
Absence, because it doth remove
That thing which elemented it.
(From "A Valediction: Forbidding Mourning" by John Donne)
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