ABSTRACT
Economics arose in the midst of the transdisciplinary tradition. During the second half of the 18th century, at a time of great social change and scientific promise, the formal field of economics emerged from moral philosophy (Canterbury 1987; Nelson 1991). Long-standing moral questions with respect to the obligation of individuals to larger social goals were being challenged by the development of markets and scientific advances, both of which brought new opportuni-
ties for personal material improvement and fueled great hopes for a plentiful future. Then, in the second half of the 18th century, as today at the end of the 20th, people were concerned that following one’s own interests might hurt society as a whole. Economists began to argue, as they continue to do, that markets guided individual behavior, as if by an “invisible hand,” to the common good.
