The discovery of new natural and artificial materials has revolutionized condensed matter physics and our views on the role of correlations between electrons. Novel properties such as high-temperature superconductivity and colossal magnetoresistance discovered in these materials have overturned our conventional representations of condensed matter physics and pushed us to reconsider many well-established concepts. For example, we must treat the Coulomb interaction between electrons far beyond perturbation theory; we must recall long-forgotten ideas of electronic phase separation introduced originally by Nagaev in the 1960s; we must reconsider the role of electron--phonon and electron--magnon interactions, orbital degrees of freedom, the Rashba effect and many other aspects of condensed matter physics that are becoming increasingly important.