Old art of BLOGGING
Back in the 19th century, there lived a very influential Italian economist, by the name of Vilfredo Pareto, whose legacy spans well through out present day. His most notable achievement was the development of, what’s today commonly know as, the Pareto principle or “law of the vital few.” What makes this principle so important is the fact that it provided a bridge between economics and sociology, by showing how, in general, only ~20% of the input is responsible for ~80% of the output in some aspects of our lives.
More clearly, with a minimum amount of effort you can come up with most of your desired results. A few short examples:
20% of the world’s population control 80% of its income.
20% of a company’s workers produce are responsible for 80% of its performance.
20% of the bugs are responsible for 80% of system crashes.
20% of clients are responsible for 80% of sales.
20% of the world’s newspapers are read by 80% of the population.
20% of a city’s streets are responsible for 80% of the traffic.
20% of criminals are responsible for 80% of the total crimes.
20% of the web’s sites produce 80% of its traffic.
And we could go on forever. Just think about learning a new language, after a few months you’ll probably be able to have a conversation with someone in a foreign language, but by no means will be fluent – that takes a lot more effort.
However, keep in mind this is not a general truth, as the 80/20 principle does not apply to all circumstances, by no means. It’s pretty clear, though, that we can learn a great deal from its microeconomics applications and become more productive individuals or … bloggers.