![]() That’s also how he found the famous principle: “ The gulf between rich and poor has always been part of the human condition, but Pareto resolved to measure it. In fact, the Pareto Index is still used today to measure income equally.Īs Economist, Sociologist, Philosopher, Vilfredo was particularly interested in wealth distributions and how people came to power. ![]() He also drove the change of economics from a branch of philosophy to a data-driven field of research and mathematical equations. Pareto did more than “just” discover a phenomenon that’s still very relevant today. The Pareto Principle was invented by the Italian Vilfredo Federico Damaso Pareto (1848-1923) in 1906 and also called “80/20 rule”, meaning 80% of the outcome coming from 20% of the input. How the Pareto Principle applies in our lives. ![]()
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