July 15, 1848, economist Vilfredo Pareto born


Happy 80/20 Day!

Italian economist, engineer and political activist Vilfredo Pareto was born on July 15, 1848, in Paris, where his father had fled due to political difficulties.

Pareto should be more famous, for his explanation of the 80/20 rule, and for his contribution to making better things, the Pareto chart.  Many economic texts ignore his work almost completely.  Quality management texts ignore his life, too — generally mentioning the principles they borrow, but offering no explanation.

Vilifred Pareto, Wikipedia image

Vilfredo Pareto, Wikipedia image; why are there so few photographs of the man, who died in 1923?

His contributions, as accounted at Wikipedia:

A few economic rules are based on his work:

And now you, dear reader, having just skimmed the surface of the pool of information on Vilfredo Pareto, know more about the man than 99.99% of the rest of the people on the planet.  Welcome to the tip-top 0.01%.

A mystery I attribute to low readership: I’ve posted much of this information before. In several years, not once has anyone criticized these posts as supporting fascism, the most common mis-directed criticism of Pareto.

Resources:

Portrait drawing of Vilfredo Pareto, from one of the few photographs of the man available. Image at Alchetron. Artist?

Portrait drawing of Vilfredo Pareto, from one of the few photographs of the man available. Image at Alchetron, by Artigas at Deviant Art.

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