Pareto’s Law As Structural Economic Synapse
Abstract
Starting from the observations of Italian economist Vilfredo Pareto, in the early days of XX-th century, refering to personal income distribution, we are coming to understand that it is not enough heightens the wealth of a nations, so that collective welfare to increase. It requires that the wealth created to be equitably distributed and not equally. Today, the famous Paretian Principle 80/20 demonstrates that we must wisely use the resources (i.e. 20%), enhance productivity, competitiveness and sustainability of the entities on the markets, so as to maintain the favourable results in 80 % ratio, but also to be overcome. Due to the elements composing the concept of Pareto’s Law, but mainly to the practical use of the theoretical pattern of an ex-post nature, we consider it a true synapse within economics, in order to facilitate an well-functioning of the society and economy and to motivate a rising of productivity in all domains.Downloads
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