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Vilfredo Pareto
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Vilfredo Pareto (1848-1923) produced the first account of society as a self-regulating and interdependent system that operates independently of human attempts at voluntary control. Short Biography:
A vigorous opponent of socialism and liberalism, Pareto justified inequality of income on the grounds of his empirical observation (Panto's law) that income distribution remained constant whatever efforts were made to change it.
A founder of welfare economics, he put forward a concept of "optimality" which contends that optimum conditions exist in an economic system if no-one can be made better off without at least one other person becoming worse off.
Why is Vilfredo Pareto famous?
Vilfredo Pareto was a Italian economist and political philosopher, born in Paris.
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Tags: political philosopher, economist, socialism, liberalism |
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Category: Philosophers - ( Philosophers Archive)
Date Added: 28 May '12
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