The Pareto Principle is a concept we often find useful. In 1906, Italian economist Vilfredo Pareto analyzed property in Italy and discovered that 80% of the land was owned by 20% of the population.

The principle was coined by consultant Joseph M. Juran in the 1940s and he named it after a sociologist and economist named ...

The principle was named after the Italian economist Vilfredo Pareto, who, in the late 19th century, observed that 80 percent of Italy’s land was owned by 20 percent of its population.

Joseph M. Juran, a Romanian-born American engineer, who in 1941 read the work of Italian polymath Vilfredo Pareto. While conducting research in Italy in the 1890s, Pareto noticed that around 80 ...

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