principles

80/20 Rule: Be more efficient and productive

Vilfredo de Pareto was an Italian sociologist and economist who, during his studies, realized that, in general, 80% of a nation’s income was in the hands of only 20% of the population. Pareto defined a rule, known as the Pareto 80/20 rule, which he summarized as follows: A high percentage of effects in any large system are caused by a…