Manage episode 306362991 series 1324119
In this episode, we investigate the principle set forth by Vilfredo Pareto (an Economist born in 1848) which specifies that 80% of consequences come from 20% of the causes, asserting an unequal relationship between inputs and outputs. This principle serves as a general reminder that the relationship between inputs and outputs is not balanced. The Pareto Principle is also known as the Pareto Rule, the 80/20 Rule, or the Matthew Principle.
Jordan often uses the principle to demonstrate the harsh reality that inequality is not a simple issue, and therefore has no simple answer.
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