The 80/20 DudeApplying the 80/20 rule to all aspects of life.
EXAMPLES OF THE 80/20 RULE
There are many examples of the 80/20 rule, so the below list is by no means exhaustive.
Examples of the 80/20 rule in business & economics:
Vilfredo Pareto (the founder of the 80/20 principle – also known as the Pareto Principle) observed in 1897 that 80% of the wealth an income in 19th century England was enjoyed by 20% of the population.
In 1949, a Harvard Professor, George K Zipf, discovered the ‘Principle of Least Effort’, which largely mirrored Pareto’s findings. He observed that anything productive (e.g. people, goods, time, skills) tended to arrange themselves so asto minimise work so that 20-30% of the given resource accounted for 70-80% of the activity related to that resource.
