Posted over 6 years ago

The Pareto Principle – Learn to Maximize Your Time

 



In 1906, an Italian economist named Vilfredo Pareto created a mathematical formula to describe the unequal distribution of wealth in his country, observing that twenty percent of the people owned eighty percent of the wealth. In the late 1940s, Dr. Joseph M. Juran inaccurately attributed the 80/20 Rule to Pareto, calling it Pareto's Principle. While it may be misnamed, Pareto's Principle or Pareto's Law as it is sometimes called, can be a very effective tool to help you manage effectively.[i]


In everyday terms, the Pareto Principle is a reminder to focus on what



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