Vladimir Pareto

Vladimir Pareto, often referred to as Vilfredo Pareto, was an Italian economist and sociologist best known for his observation that roughly 80% of results come from 20% of causes—known as the Pareto Principle. This concept applies in various fields, such as business and economics, where a small portion of input or efforts tend to generate the majority of outcomes or rewards. His work highlights inequality and distribution patterns, emphasizing that resources, wealth, or effort are often concentrated among a small segment, which has implications for decision-making and resource management.