This paper is theoretical in orientation and explores the limitations of the current field of mathematics education which has been dominated by social theories of learning. It is proposed that the field is approaching its limits for these theories and there is a need for shift that moves from the idiosyncratic possibilities of subjective meaning making and identity formation to a more profound position of "knowledge making." There have been few, if any, advances in equity target group performance so questions are posed as to the viability of social theories for changing the status quo. If equity target groups are to be successful, then success needs to be more aligned with knowledge-making processes.