The "ergodicity economics" person thinks utility theory is circular. It isn't. But you can see why Joan Robinson thought so in 1962. There was a time when utility was treated by some economists as an inherent quality of a product that causes people to like it. 1/n

Dont you think it was transitional. The classicists saw value as inhering in things or land. So it was a way to be marginalist without making the full behavioral jump