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THE PARETO PRINCIPLE: ITS USE AND ABUSE
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1987
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Social InequalityEconomicsEconomic InequalityLate Nineteenth‐century Economist/sociologistSocioeconomicsVilfredo ParetoSociologyManagementBusinessEconomic AnalysisIncome DistributionEconomic DesignPreference AggregationEconomic HistoryMechanism DesignEconomics And ComputationSocial SciencesPareto Principle
Vilfredo Pareto was a late nineteenth‐century economist/sociologist who first noted and reported his observation that about 80 percent of wealth was concentrated in about 20 percent of a population. This is the basis for what we now call the Pareto Principle.