This week's Wiki-Wednesday topic is the Pareto Principle - also known as the 80/20 rule. Many of us use it all of the time, but do we really understand the implications of the distribution principle? I'm sure I hadn't fully thought about it until reading up for this weeks' posting. Other things I did not know about the primciple are that it was incorrectly attributed to early 20th century economist Vilfredo Pareto because he observed that 20 percent of the landowners in Italy owned 80% of the land. (He also noted that 20% of the pea plants in his garden produced 80% of the peas...)
We’ve read as many of the news stories on this topic as possible to bring you the following synopsis. Most of the details are widely available across all sources, but in the case that an interesting detail or fact came from one particular article, we’ve cited the source (see our footnotes). Otherwise, there is a listing of articles for further reading at the bottom of the page, with date, source and a link (click on the article's title to access it at its source).