Looking around there are three candidates for "foundations of mathematics":
- set theory
- category theory
- type theory
There is a seminal paper relating these three topics:
From Sets to Types to Categories to Sets by Steve Awodey
But at this forum (MSE) and its companion (MO) the tag [type theory] is seriously underrepresented. As of today (2013/11/13) (questions by tag):
MSE
- set theory: 1,866
- category theory: 1,658
- type theory: 39
MO
- set theory: 1,437
- category theory: 1,920
- type theory: 40
Update (2017/05/17):
MSE
- set theory: 4,435
- category theory: 6,137
- type theory: 224
Update (2019/07/15):
MSE
- set theory: 6,267
- category theory: 9,009
- type theory: 371
Update (2020/05/05):
MSE
- set theory: 7,038
- category theory: 10,255
- type theory: 441
What does this mean? Is type theory a hoax? For example, I stumbled over this MSE comment (by a learned member):
[...] a lot of people [in the type theory community] didn't know what they really talk about (in comparison to, say, classical analysis, where the definitions are very concrete and clear). I'm sure that that's not 100% true on the actual people, but that impression did stick with me. [...]
I'd like to learn from the MSE- and MO-community (resp. their experts):
Why is it worth spending time on type theory?
Disclaimer: I'm starting to learn type theory, so I'm not an expert.
Personally I've found the following some very good reason to study type theory.
For start type theory is a different kind of foundational theory, and sometimes working in different background can be interesting.
As Miha Habič pointed out set theory has lot of idiosyncrasy to make all the classical mathematical construction. Type theory is free from those tricky constructions and all the objects are build in a more natural way: although I have to admit that what's natural is a matter of tastes.
Type theory has also connections with computability theory: it's a constructive foundational theory and has deep link with computer science, in particular it is a formal system that is also a programming language and so it allows to develop easily proof assistant that can help in verifying correctness of proofs. Doing that in classical set theory can be more difficult, for what I get.
I suppose that there are many other good reason to learn type theory, that I'm not aware for now.
Edit: I've just seen that I haven't addressed the first part, the one about why type theory has so very few question on SE and MO on type theory. Still a guess, but I suppose that is due to two facts:
type theory, in it's actual form is quite new, and(apparently that's false, see ZhenLin comment below) before of the Homotopy Type Theory's book I've never heard of a reference which introduce type theory in a intuitive way: I suppose that made type theory really a thing for people interested in computation theory and mathematical logic;Anyway I'm thinking that the trend is gonna change especially for the work of homotopy type theorist, I'm really confident that in a not really far future more mathematicians will use type theory as foundational background (many probably already do it without knowing), so it's just a matter of time, or at least that's what I think.
Hope this helps.