Economist, philosopher and engineer. He made important contributions to economics and mathematics, and is best known for two concepts that are named after him, his law of optimality and the law of income distribution, also known as the 80-20 rule, the Pareto principle or the law of the vital few. He studied mathematics and literature at the Polytechnic Institute in Torino, Italy. In 1886 he was appointed a lecturer on economics and management at the University of Florence and became an active critic of the Italian government's economic policies. In 1893 he became chair of economics at the University of Lausanne, Switzerland. Among his publications are Cours d'économie politique (Course of Political Economy, 1896-97), Manuale d'economia politica (Manual of Political Economy, 1906) and Trattato di sociologia generale (English title is Mind and Society, 1916). In 1901 he moved to Crans-près-Céligny, a village near Geneva where he died in 1923. He was buried in the small village cemetery.
Economist, philosopher and engineer. He made important contributions to economics and mathematics, and is best known for two concepts that are named after him, his law of optimality and the law of income distribution, also known as the 80-20 rule, the Pareto principle or the law of the vital few. He studied mathematics and literature at the Polytechnic Institute in Torino, Italy. In 1886 he was appointed a lecturer on economics and management at the University of Florence and became an active critic of the Italian government's economic policies. In 1893 he became chair of economics at the University of Lausanne, Switzerland. Among his publications are Cours d'économie politique (Course of Political Economy, 1896-97), Manuale d'economia politica (Manual of Political Economy, 1906) and Trattato di sociologia generale (English title is Mind and Society, 1916). In 1901 he moved to Crans-près-Céligny, a village near Geneva where he died in 1923. He was buried in the small village cemetery.
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