Pareto Principle
One of the most well-known principles is that proposed by Vilfredo Pareto. Pareto was an Italian economist (among other things) who observed that 80% of Italy’s wealth came from 20% of its population.
The Pareto Principle, often also called the 80/20 rule, proposes that roughly 80% of the effect of something comes from 20% of the source of it.
‘Roughly’ is the keyword here, but essentially provides for the conclusion that a large proportion of the outcome of something, comes from a small population of its constituents.
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The Pareto Principle
... or the 80/20 principle was coined in the early 1900s by Vilfredo Pareto, an Italian economist. He observed that the pea pods in his garden were producing peas at this rate. 20 percent of the pea pods produced 80 percent of the peas. This output was then observed by him on a larger sc...
The Pareto Principle (the 80/20 Rule)
It is an idea discovered by an Italian economist. It says that power and wealth is distributed like a reversed hockey stick where a small percentage of the population (20%) owns majority of the wealth (80%).
80/20: Pareto's principle
The Pareto principle states that 20% of your activities (even lesser) deliver 80% results (even more) in almost every area of your life.
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