It gets its name from Italian economist Vilfredo Pareto, who “stumbled” upon the concept when observing that about 20% of the peapods in his garden contained 80% of the peas.Īnd then he kept observing the same pattern everywhere else:ĭuring research for a paper, he discovered that approximately 80% of the land in Italy was owned by a few powerful people – 20% of the population. I use it to analyze business tasks, buying groceries, learning skills, or allocating free time.Īs a student of Business & Economics, I was introduced to the Pareto Principle in college. One of the mental models I keep referring back to almost daily in my life is the Pareto Principle, also known as the 80/20 rule.
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