Tag Archives: Pareto

Not Enough Time

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The Pareto principle (also known as the 80–20 rule, the law of the vital few, and the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes. Italian economist Vilfredo Pareto, observed in 1906 that 80% of the land in Italy was owned by 20% of the population. He developed… Read more »