Abstract
Holder of the Chair of Moral Philosophy at Glasgow University, Hutcheson, counted Adam Smith among his pupils. His moral philosophy resembled Smith’s in emphasizing the role of sentiment, though Smith rejected his notion of an internal moral sense. Hutcheson’s economic analysis embraced the division of labour, property, and money. His theory of value, which stressed the role of subjective judgement as a determinant of value in exchange, was influenced by Pufendorf, but Hutcheson went beyond Pufendorf (and foreshadowed Smith) in arguing that goods exchange at a rate that is in part determined by the quantity of labour embodied in them.
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