Vilfredo Pareto | |
|---|---|
 Pareto in the 1870s | |
| Born | Wilfried Fritz Pareto 15 July 1848 Paris, France |
| Died | 19 August 1923 (aged 75) Céligny, Switzerland |
| Nationality | Italian |
| Academic career | |
| Field | |
| Institutions | University of Lausanne |
| School or tradition | |
| Alma mater | Polytechnic University of Turin |
| Influences | |
| Contributions | |
| Signature | |
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Vilfredo Federico Damaso Pareto[4][a] (born Wilfried Fritz Pareto;[7] 15 July 1848 – 19 August 1923) was an Italian polymath, whose areas of interest included sociology, civil engineering, economics, political science, and philosophy. He made several important contributions to economics, particularly in the study of income distribution and in the analysis of individuals' choices. He was also responsible for popularising the use of the term elite in social analysis.
He introduced the concept of Pareto efficiency and helped develop the field of microeconomics. He was also the first to claim that income follows a Pareto distribution, which is a power law probability distribution. The Pareto principle was named after him, and it was built on his observations that 80% of the wealth in Italy belonged to about 20% of the population. He also contributed to the fields of sociology and mathematics.
- ^ Robert A. Nye (1977). The Anti-Democratic Sources of Elite Theory: Pareto, Mosca, Michels. Sage. p. 22.
- ^ J. J. Chambliss, ed. (2013). Philosophy of Education: An Encyclopedia. Routledge. p. 179.
- ^ a b c d Rothbard, Murray (2006). "After Mill: Bastiat and the French laissez-faire tradition". An Austrian Perspective on the History of Economic Thought. Vol. Classical economics. Ludwig von Mises Institute. pp. 456–457.
- ^ Geoffrey Duncan Mitchell. A Hundred Years of Sociology. Transaction Publishers, 1968. p. 115. ISBN 9780202366647
- ^ "Pareto". Lexico UK English Dictionary. Oxford University Press. Archived from the original on 4 February 2021.
- ^ "Pareto". Merriam-Webster.com Dictionary. Merriam-Webster. Retrieved 28 July 2019.
- ^ Boccara, Nino (9 September 2010). Modeling Complex Systems. Springer Science & Business Media. p. 372. ISBN 978-1-4419-6562-2.
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