Vilfredo Pareto

Economist

Vilfredo Federico Damaso Pareto was an influential Italian polymath who made significant contributions to economics, sociology, and political science. He is most famously known for the Pareto principle, or the 80/20 rule, which he developed after observing that 80% of the land in Italy was owned by 20% of the population. His work on income distribution and his analysis of individuals' choices laid the groundwork for modern microeconomics. Pareto's later career focused on sociology, where he developed the concept of the circulation of elites in his notable work, The Mind and Society.

Jul 15, 1848 - Aug 19, 1923 Italian 15 Quotes

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