Business/Economics

Business/Economics - learn from the smartest.

Upgrade to Britannica Online

Take a tour, New improved britannica online

Imagine Britannica's 32-volume encyclopedia online right there for you, plus full access to articles. Amazing content, written by world experts, that you can cite for projects and assignments.

Click here for Britannica shop

Pareto, Vilfredo

(born July 15, 1848, Paris, France—died Aug. 19, 1923, Geneva, Switz.) Italian economist and sociologist. Educated at the University of Turin, he worked as an engineer and later served as a director of a large Italian railway. He taught at the University of Lausanne from 1893. His law of income distribution used a complex mathematical formula to trace historical patterns in the distribution of wealth. In 1906 he laid the foundation of modern welfare economics with his Pareto Optimum, which stated that a society's resources are not optimally allocated as long as it is possible to make at least one person better off while keeping others as well off as before.

Find more information on Pareto, Vilfredo. Upgrade to Britannica Online for more on Pareto, Vilfredo.

  • Get more

  • M?ss?ng more?

    Subscribers see 10 times more content. Just US $69.95 per year

  • Britannica, just as colourful as Hong Kong
  • Times may change, but insightful knowledge is still in demand. That's why Britannica brings a world of knowledge online, to Hong Kong. Have a look for yourself.