Tools of the Trade: Vilfredo Pareto

摘要

In the 18th century, an economist called Vilfredo Pareto lived in Italy. Pareto was brought to fame, at least in the 20th centruy, through noticing that not only 80 percent of the wealth of the country was held by 20 percent of the people, but also that 80 percent of the wealth held by that 20 percent was held by 20 percent of the 20 percent (or 4 percent of the population).