Which famous economist is known for the '80/20 rule' or the Law of the Vital Few?
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Vilfredo Pareto
The Pareto Principle suggests that for many events, roughly 80% of the effects come from 20% of the causes, such as 80% of wealth being owned by 20% of the population.
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- Which economist's name is given to the principle that roughly 80% of effects come from 20% of causes?