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Pareto's Law applies to almost everything in life from "summary" of The 80/20 Principle, Third Edition by Richard Koch
Pareto's Law, also known as the 80/20 Principle, is a powerful concept that can be applied to almost every aspect of life. The essence of this principle is that a small number of causes (20%) are responsible for a large majority of results (80%). This principle was first discovered by Vilfredo Pareto, an Italian economist, in the early 20th century. The 80/20 Principle is a simple yet profound idea that can be seen in a wide range of phenomena. For example, in business, it is often the case that 80% of a company's profits come from 20% of its customers. Similarly, in personal finance, 80% of wealth is typically owned by 20% of the population. This principle can also be applied to time management, where 80% of our productivity comes from 20% ...
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