Vilfredo Federico Damaso Pareto was an Italian polymath.
36 Facts About Vilfredo Pareto
Vilfredo Pareto made several important contributions to economics, particularly in the study of income distribution and in the analysis of individuals' choices.
Vilfredo Pareto was responsible for popularising the use of the term "elite" in social analysis.
Vilfredo Pareto introduced the concept of Pareto efficiency and helped develop the field of microeconomics.
Vilfredo Pareto was the first to discover that income follows a Pareto distribution, which is a power law probability distribution.
Vilfredo Pareto contributed to the fields of sociology and mathematics.
Vilfredo Pareto's books look more like modern economics than most other texts of that day: tables of statistics from across the world and ages, rows of integral signs and equations, intricate charts and graphs.
Vilfredo Pareto was born of an exiled noble Genoese family in 1848 in Paris, the centre of the popular revolutions of that year.
Vilfredo Pareto's father, Raffaele Pareto, was an Italian civil engineer and Ligurian marquis who had left Italy much as Giuseppe Mazzini and other Italian nationalists had.
Vilfredo Pareto was manager of the Iron Works of San Giovanni Valdarno and later general manager of Italian Iron Works.
Vilfredo Pareto did not begin serious work in economics until his mid-forties.
Vilfredo Pareto started his career a fiery advocate of classical liberalism, besetting the most ardent British liberals with his attacks on any form of government intervention in the free market.
Vilfredo Pareto's stay in Florence was marked by political activity, much of it fueled by his own frustrations with government regulators.
In 1889, after the death of his parents, Vilfredo Pareto changed his lifestyle, quitting his job and marrying a Russian woman, Alessandrina Bakunina.
Vilfredo Pareto maintained cordial personal relationships with individual socialists, but he always thought their economic ideas were severely flawed.
Vilfredo Pareto later became suspicious of their motives and denounced socialist leaders as an 'aristocracy of brigands' who threatened to despoil the country and criticized the government of the Italian statesman Giovanni Giolitti for not taking a tougher stance against worker strikes.
Vilfredo Pareto's attitude towards Italian fascism in his last years is a matter of controversy.
The story of Vilfredo Pareto is part of the multidisciplinary research of a scientific model that privileges sociology as a critique of cumulative models of knowledge as well as a discipline tending to the affirmation of relational models of science.
Vilfredo Pareto left him in 1902 for a young servant.
Vilfredo Pareto is famous for saying "history is a graveyard of aristocracies".
Vilfredo Pareto seems to have turned to sociology for an understanding of why his abstract mathematical economic theories did not work out in practice, in the belief that unforeseen or uncontrollable social factors intervened.
Vilfredo Pareto's sociology holds that much social action is nonlogical and that much personal action is designed to give spurious logicality to non-rational actions.
Vilfredo Pareto has been labelled a fascist and 'a precursor of fascism' largely because he welcomed the advent of fascism in Italy and was honored by the new regime.
Vilfredo Pareto was fascinated by problems of power and wealth.
Vilfredo Pareto gathered reams of data on wealth and income through different centuries, through different countries: the tax records of Basel, Switzerland, from 1454 and from Augsburg, Germany, in 1471,1498 and 1512; contemporary rental income from Paris; personal income from Britain, Prussia, Saxony, Ireland, Italy, Peru.
Vilfredo Pareto had argued that democracy was an illusion and that a ruling class always emerged and enriched itself.
The weak starve, lest society become degenerate: One can, Vilfredo Pareto wrote, 'compare the social body to the human body, which will promptly perish if prevented from eliminating toxins.
Vilfredo Pareto turned his interest to economic matters and he became an advocate of free trade, finding himself in difficulty with the Italian government.
Vilfredo Pareto's writings reflected the ideas of Leon Walras that economics is essentially a mathematical science.
Vilfredo Pareto was a leader of the "Lausanne School" and represents the second generation of the Neoclassical Revolution.
Vilfredo Pareto used the indifference curve of Edgeworth extensively, for the theory of the consumer and, another great novelty, in his theory of the producer.
Vilfredo Pareto gave the first presentation of the trade-off box now known as the "Edgeworth-Bowley" box.
Vilfredo Pareto replaced it with the notion of Pareto-optimality, the idea that a system is enjoying maximum economic satisfaction when no one can be made better off without making someone else worse off.
Vilfredo Pareto optimality is widely used in welfare economics and game theory.
Vilfredo Pareto argued that in all countries and times, the distribution of income and wealth is highly skewed, with a few holding most of the wealth.
Vilfredo Pareto argued that all observed societies follow a regular logarithmic pattern:.