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There is still a big debate going on about the value of the lecture.
Here's an article that mainly explains why it's good:
The point I'd like to make here is that the attack on the lecture is, covertly, an attack on knowledge. In other words, a good lecture by a good lecturer is a wonderfully effective way to transmit knowledge from the older generation to the younger generation. That is apparently the part that our Education Establishment doesn't approve of.
So when you hear the lecture criticized, don't automatically assume the criticism is directed at the lecture per se. Progressive education, almost by definition, has always favored a sort of flattening, a leveling within the classroom. If some kids learn a lot of stuff quickly, that's a threat to this agenda. So how do they stop this from happening? Easy. They demonize the lecture. In its place, they encourage lots of classroom discussion, lots of projects, lots of discovery and constructivism.