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Lessons from failures to achieve what was possible in the twentieth century physics

For several decades there has been no breakthrough in fundamental physics as revolutionary as relativity and quantum physics despite the amazing advancement of applied physics and technology. By discussing several examples of what physics could have achieved by now, but failed, I will argue that the present state of fundamental physics is not caused by the lack of talented physicists, but rather by problematic general views on how one should do physics. Although it appears to be widely believed that such general views cannot affect the advancement of physics I would like to draw the attention of the younger generation of physicists to three reasons that might have been responsible for failures in the past and might cause problems in the future: (i) misconceptions on the nature of physical theories, (ii) underestimation of the role of conceptual analyses so successfully employed by Galileo and Einstein, and (iii) overestimation of the predictive power of mathematics in physics.