Productivity in theory
13 September 2012
Vilfredo Pareto has sunk into obscurity for good reasons, but some of his ideas are still of use to the modern manufacturing business. This article explains Pareto’s Law.
Time has not dealt kindly with Vilfredo Pareto (1848-1923). In his lifetime, he was recognised as a leading sociologist and economist and his The Mind and Society seemed to establish his position once and for all: yet this was not to be. His disdain for the democratic process and support for rule by an elite endeared him to Fascist parties and tarnished his reputation...