The Fermi liquid theory of the normal state and the BCS-Eliashberg theory o
f the superconducting state were designed for good metals not for doped ant
iferromagnetic insulators, such as the high temperature superconductors. Co
nsequently, it is necessary to understand the electronic structure of the d
oped insulator and to develop a new mechanism and many-body theory of super
conductivity for these materials. It will be argued that, since the motion
of a single hole in an antiferromagnet is frustrated, the driving force for
the physics of a finite concentration of doped holes is the need to reduce
their zero-point kinetic energy. This proceeds in. three steps that are re
flected in a sequence of crossovers and phase transitions. First of all, th
e system forms a charge-inhomogeneous state - an electronic liquid crystal
phase, involving an array of metallic stripes, which lowers the kinetic ene
rgy along a stripe. lit the direction perpendicular to the stripes, the kin
etic energy is lowered by pair hopping, which proceeds in two steps. Local
pair hopping induces spin. pairing and then, cat a lower temperature, pair
hopping from stripe to stripe produces superconducting phase coherence. Som
e of the experimental support for the various aspects of this model will be
described.