Pareto’s Law As Structural Economic Synapse

Alexandru Trifu

Journal of Economics and Behavioral Studies, 2012, vol. 4, issue 1, 72-74

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.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:rnd:arjebs:v:4:y:2012:i:1:p:72-74

DOI: 10.22610/jebs.v4i1.304

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