I have been a Cost Accountant for awhile and can’t tell you the number of times I have applied the Pareto distribution, or 80/20 principle as it is also known.  This book is the first that I have run across that tells the history and suggests many possible applications for the rule.  I have been teaching cost accounting in University Extension for about four years and this is one of the subjects not mentioned in the texts that I always make sure they know.

To anyone who is unfamiliar with Vilfredo Pareto and his amazing discovery, I would suggest you read the first half of this book.  The second half of the book applies the rule to life in general and I have some reservations about its relevance in all life situations.  But certainly in business everyone should know its application.

 

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