Wilfredo Pareto was born in France but has always considered himself Italian. He went down in the history of science as a person who discovered the principle that 20% of human efforts give 80% of the result. This principle was developed in the theory of elites developed by the scientist.
From the biography of Vilfredo Pareto
The future sociologist and economist was born in the capital of France on July 15, 1848. Wilfredo's father was an Italian marquis from Genoa. Republican convictions forced his father to emigrate to France. Mom Wilfredo is French by nationality, but she was fluent in both French and Italian. And yet Pareto felt like an Italian all his life.
In 1858, the family was able to return to Italy. Here Wilfredo received an excellent classical, technical and humanitarian education. The young man paid the main attention to mathematical disciplines.
After graduating from the Polytechnic School in Turin, in 1869 Pareto defended his dissertation. It was devoted to the principles of equilibrium in solids. Subsequently, the topic of equilibrium occupied an important place in Pareto's works on economics and sociology.
For several years, Wilfredo held important positions in one of the metallurgical companies and in the railway department.
The life and work of Vilfredo Pareto
In the 90s of the 19th century, Pareto decides to get involved in politics. However, in this field, he did not achieve success. At the same time, Wilfredo spent a lot of energy on journalism. He studied and translated classical texts into various sciences.
The researcher's contribution to science turned out to be very significant. Pareto has published several solid studies in the fields of economic theory and mathematical economics.
Pareto became famous for his theory of elites. He believed that society always strives for balance. This state is provided by the interaction of dissimilar forces. At the same time, Pareto determined the elite by innate psychological properties. To maintain equilibrium in the social system, a regular change of elites is required.
Another famous discovery of the scientist was the so-called "Pareto principle". This rule of thumb states that 20% of the effort produces 80% of the result, and the remaining 80% provides only 20% of the result. This rule has found application in systems for assessing achievements and performance.
The last period of Pareto's life
In 1893, Wilfredo was promoted to professor of political economy at the University of Lausanne (Switzerland), replacing the famous economist Leon Walras. The scientist worked in this position until the end of his life.
When Mussolini came to power in Italy, Pareto expressed very restrained support for his regime. At the same time, he recognized the country's new leader for the preservation of liberal values and asked not to restrict civil liberties. Interestingly, the dictator himself and many of his supporters considered themselves to be Pareto's students.
A prominent scientist passed away in Switzerland on August 20, 1923. He spent his last years in this country, and was buried here.
