In this paper, the perspective of situated cognition, which gave rise both to the pragmatic theories and the so-called semantic theories of learning and has probably become the most representative standpoint of constructivism, is examined. We consider the claim of situated cognition to provide alternative explanations of the learning phenomenon to those of psychology and, especially, to those of the symbolic perspective, currently predominant in cognitive psychology. The level of analysis of situated cognition (i.e., global interactive systems) is considered an inappropriate approach to the problem of learning. From our analysis, it is concluded that the pragmatic theories and the so-called semantic theories of learning which originated in situated cognition can hardly be considered alternatives to the psychological learning theories, and they are unlikely to add anything of interest to the learning theory or to contribute to the improvement of our knowledge about the learning phenomenon.