ANALYSIS: ECONOMICS, TRADE AND THE OLYMPIC GAMES
Jan Schoombee on the Pareto principle, comparative advantages, and the medal count at the Olympics Vilfredo Pareto found in 1906 that 80% of the land in Italy was owned by 20% of the population. The Pareto principle (also known as the 80–20 rule) follows the same logic in that in any given system, the majority…