ABSTRACT
I This essay is focused on a particular aspect of a general philosophical problem, i.e., the problem of explanation in history.* The fundamental question at issue is this: From what standpoint, in what terms, and to what extent, can the historian of economics ‘explain’ the marginal revolution? As the title indicates, I do not believe it can be adequately explained solely in terms of the immanent development of the logic of economic theory. But, on the other hand, none of the familiar environmentalist theories has proved convincing, for as George Stigler has justly complained, exponents of this approach have usually failed ‘to offer hypotheses on the portions of the social environment which do or do not influence economic theorizing. Of course the environment has some influence, but until we can specify when and where we only have a deus ex machina.’1
