Give Vilfredo Pareto More Respect
In 1906 Vilfredo Pareto made the observation that 80% of the property in Italy was owned by 20% of the population. With further embellishment, this morphed into the Pareto Principle, or 80/20 rule, which posits that for many phenomena, 80% of the consequences stem from 20% of the causes. It's also called the law of […]
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October 26, 2006