Vilfredo Pareto

Vilfredo Pareto was an Italian economist and sociologist known for his work on wealth distribution and economic efficiency. He is best known for the Pareto Principle, often referred to as the 80/20 rule, which suggests that roughly 80% of effects come from 20% of causes. For instance, in business, 80% of profits may come from 20% of customers. Pareto's insights highlight the imbalance in wealth and resources in society, showing that a small portion of the population controls a large share of wealth. His work has influenced economics, sociology, and various fields beyond.