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2024-09-22 08:20:01

Vilfredo Pareto

Italian polymath and economist
Italian polymath and economist

Vilfredo Pareto was a versatile Italian scholar, known for his work in economics, sociology, and political science. He introduced Pareto efficiency and the Pareto principle, highlighting income inequality and elite social groups.

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1848-07-15
Vilfredo Pareto Criticizes Political Ideologies

Vilfredo Pareto criticized various political ideologies such as humanitarianism, liberalism, socialism, communism, and fascism, arguing that they were all just tools used by leaders to maintain power and privilege. He believed that these ideologies were merely smokescreens for those in governance.

1852
Pareto family returns to Genoa

In 1852, the Pareto family returned to Genoa where Vilfredo Pareto's father became a French teacher at a local school.

1862
Vilfredo Pareto stays in Turin to complete his studies

In 1862, Vilfredo Pareto decided to remain in Turin to finish his education while his family moved to Florence due to the capital's relocation. This decision marked a significant point in his academic journey.

1864
Obtained Licenza de maturita from Royal Technical Institute in Turin

In 1864, Pareto obtained his Licenza de maturita from the Royal Technical Institute in Turin.

1866
First publication in his father's journal

In 1866, Pareto's first publication was published in his father's journal.

1867
Enrolled for advanced degree in civil engineering at the polytechnic institute of Turin

After a year of military service, Pareto signed up to take an advanced degree in civil engineering at the polytechnic institute of Turin.

1869
Doctorate in Engineering

In 1869, Vilfredo Pareto earned a doctorate in engineering from the Polytechnic University of Turin with a dissertation on 'The Fundamental Principles of Equilibrium in Solid Bodies', which later influenced his interest in equilibrium analysis in economics and sociology.

1870
Vilfredo Pareto's political views influenced by Cavour

Vilfredo Pareto, a radical democrat and classical liberal, was inspired by the liberal ideals of Cavour in his youth. He was critical of the interventionist state advocated by Bismarck.

1872
Vilfredo Pareto delivers first address to the Accademia dei Georgofili

In 1872, Vilfredo Pareto delivered his first address to the Accademia dei Georgofili in Florence, where he defended radical parliamentary democracy and universal suffrage while criticizing Bismarckian paternalism. This event marked the beginning of his involvement in Italian politics.

1873
Vilfredo Pareto quits job to work at iron and steel company

In 1873, Vilfredo Pareto left his unexciting job and relocated to San Giovanni Valdarno to assume a more significant role at a local iron and steel company. His interest in economics flourished as he dealt with the concerns of iron workers and embarked on business trips to various European countries, absorbing knowledge on politics, economics, and sociology. Additionally, he became a founding member of the 'Società Adamo Smith' in Florence in 1874.

1877
Vilfredo Pareto's Address to Accademia dei Georgofili

In 1877, Vilfredo Pareto delivered a notable address to the Accademia dei Georgofili, criticizing the German Historical School and its influence in Italy. He opposed the paternalistic politics, state interventionism, and anti-theoretical stance of the Historicists, including Auguste Comte.

1880
Pareto becomes managing director of Società Ferriere d'Italia

In 1880, Vilfredo Pareto was appointed as the managing director of Società Ferriere d'Italia after the reorganization of the Valdano iron and steel concern. This new role allowed him more time for reflection on government regulation and worker conditions.

1882
Vilfredo Pareto's second attempt at national parliament

In 1882, Vilfredo Pareto tried again to become a deputy for Pistoia in the national parliament, but he was unsuccessful once more.

1886
Lecturer on Economics and Management

In 1886, Vilfredo Pareto became a lecturer on economics and management at the University of Florence, where he started his career as a classical liberal economist and engaged in political activities.

1887
Gustave de Molinari invites Vilfredo Pareto to submit articles

In 1887, the Belgian economist Gustave de Molinari invited Vilfredo Pareto to submit articles on the Italian situation to the prestigious Journal d'economistes, after spotting Pareto's tireless polemics in the press.

1889
Vilfredo Pareto changes lifestyle after parents' death

In 1889, after the death of his parents, Vilfredo Pareto inherited the marchese title but chose not to use it. He then quit his job and married Alessandrina Bakunin, a penniless girl from Venice.

1890
Walras Recommends Pareto as His Successor

Despite their disagreements on economic policy issues and opposing temperaments, Leon Walras decided that Vilfredo Pareto should succeed him in the field of economics.

1891
Publication of article in Revue des deux mondes

In 1891, Vilfredo Pareto published an article in the Revue des deux mondes, which cited an article by Maffeo Pantaleoni. This publication brought Pareto to the attention of the authorities.

1892
Pareto's Cautionary Notes on Economic Science

In 1892, Vilfredo Pareto made cautionary notes about the scope and limits of economic science. He emphasized that economic science does not cover 'motive' comprehensively, but only a small facet of behavior in a social context. Pareto also highlighted that other motives and factors should not be ignored.

1893
Vilfredo Pareto publishes introduction to abridged Italian edition of Karl Marx's Capital

In 1893, Vilfredo Pareto published an introduction to an abridged Italian edition of Karl Marx's Capital, where he praised Marx's theory of class struggle and historical materialism.

1896
Pareto's Law of Income Distribution

Vilfredo Pareto's exposition of 'Pareto's Law' of income distribution, which states that income and wealth distribution follows a regular logarithmic pattern.

1897
Termination of Pareto's 'Chronace'

In 1897, Pareto's 'Chronace' was terminated as part of the authorities' efforts to suppress dissent and avoid mass uprisings.

1900
Introduction of Pareto-optimality concept

Vilfredo Pareto introduced the concept of Pareto-optimality in 1900, which suggests that a society reaches maximum welfare when no individual can be made better off without making someone else worse off. This idea revolutionized modern microeconomics and challenged the traditional notion of cardinal utility.

1901
Appointment as Professeur Ordinaire in Lausanne

In 1901, Vilfredo Pareto was appointed as a Professeur Ordinaire in Lausanne.

1902-03
Course on Socialist Systems at University of Lausanne

During 1902-03, Vilfredo Pareto taught a course on Socialist Systems at the University of Lausanne.

1903
Review of Bortkiewicz's Anwendungen and Pareto's Anwendungen

In 1903, Francis Ysidro Edgeworth reviewed Bortkiewicz's and Vilfredo Pareto's works 'Anwendungen'.

1904
Benito Mussolini attends Pareto's lectures

In 1904, the future leader of Italian fascism, Benito Mussolini, attended lectures by Vilfredo Pareto at the University of Lausanne. It is suggested that Mussolini's shift from socialism to elitism may have been influenced by Pareto's ideas, particularly regarding ruling classes and the role of the state.

1906
Publication of 'Manuale d’economia politica'

In 1906, Vilfredo Pareto published his most influential work, 'Manuale d’economia politica'. This work further developed his theory of pure economics and laid the foundation of modern welfare economics.

1907
L'économie et la sociologie au point de vue scientifique

In 1907, Vilfredo Pareto published 'L'économie et la sociologie au point de vue scientifique' in Rivista di Scienza, where he discussed the relationship between economics and sociology from a scientific perspective.

1909
Revue critique d'histoire et de littérature

A critical review of history and literature published in 1909.

1913
Vilfredo Paretos Manuel d'économie politique

Knut Wicksell published 'Vilfredo Pareto's Manual of Political Economy' in 1913.

1916
Publication of Trattato di Sociologia Generale

Vilfredo Pareto published his best-known work, Trattato di Sociologia Generale in 1916. The book was later translated into English by Harcourt, Brace in 1935 under the title The Mind and Society. In this work, Pareto introduced the concept of the circulation of elites, which became the first social cycle theory in sociology.

1919
Review of Pareto's Traité de sociologie générale

A review of Vilfredo Pareto's 'Treatise on General Sociology' by C. Bouglé in 1919.

1920
Publication of Pareto's book expanding on sociological theory

In 1920, Vilfredo Pareto published a book expanding on his sociological theory, providing classical and contemporary illustrations. His work included quasi-mystical arguments about non-logical motivations, which attracted Italian Fascists like Mussolini.

1921
Publication of Pareto's second book expanding on sociological theory

In 1921, Vilfredo Pareto published another book further expanding on his sociological theory. His work continued to delve into classical and contemporary illustrations, as well as quasi-mystical arguments that intrigued Italian Fascists.

1922
Vilfredo Pareto's Recognition by Fascists

After Mussolini's March on Rome in 1922, the Fascists showered Vilfredo Pareto with honors, making him a Senator of the Kingdom of Italy and inviting him to join the Italian delegation to the Geneva Disarmament Conference. Pareto, known for his contributions to sociology and economics, declined most of the honors but spoke favorably of certain early reforms.

1923-08-19
Death of Vilfredo Pareto

Vilfredo Pareto passed away on August 19, 1923. He was known for his contributions to economics and sociology, particularly the concept of Pareto efficiency.

1925
Influence on Benito Mussolini

Pareto's work in economics and sociological theories, particularly 'Trattato di Sociologia Generale', influenced young Benito Mussolini and the development of early Italian fascism.

1934
Paretian Revival

The revival of Vilfredo Pareto's 'tastes-and-obstacles' approach to demand by John Hicks and R.G.D. Allen.

1935-05-25
Vilfredo Pareto: A Biographical Portrait

An article by Arthur Livingston in The Saturday Review on May 25, 1935, providing a biographical portrait of Vilfredo Pareto.

1936-10
Pareto's Sociology

An article by Max Millikan in October 1936, focusing on Vilfredo Pareto's Sociology published in Econometrica.

1938
Publication of Luigi Amoroso's article on Vilfredo Pareto

Luigi Amoroso published an article on Vilfredo Pareto in the journal Econometrica in 1938, discussing the influence of rationalistic vocation on the mysticism of Pareto and the association of Pareto's work with Fascism.

1939
Extension and Popularization of Paretian Approach

John Hicks extended and popularized Vilfredo Pareto's approach to demand.

1943
Resurrection of Pareto's work on welfare economics

In 1943, Vilfredo Pareto's work on welfare economics was revived by economists like Harold Hotelling, Oskar Lange, and the 'New Welfare Economics' movement. This resurgence led to a renewed interest in Pareto's contributions to the field.

1947
Popularization of Pareto's Work on Welfare

Paul Samuelson popularized Vilfredo Pareto's work on welfare.

1952
Scritti Teorici

In 1952, the book 'Scritti Teorici' was published, edited by Demaria.

1958
Mon Journal

In 1958, 'Mon Journal' was released.

1960
Lettere a Maffeo Pantaleoni

In 1960, 'Lettere a Maffeo Pantaleoni' was published in three volumes covering the years 1890-1923.

1966
Sociological Writings

Translations of excerpts from major works by Vilfredo Pareto, published by Praeger.

1967
Pareto's Sociological Scheme

According to Pareto's sociological scheme, residues and derivations are mechanisms by which society maintains its equilibrium. Society is viewed as a system with interdependent parts, where individuals are affected by social forces leading to reactions to achieve equilibrium.

1968
Pareto's Methodological Approach to Economics

Vincent J. Tarascio's study on Vilfredo Pareto's methodological approach to economics, focusing on the historical and scientific aspects of economic thought.

1971
Manual of Political Economy

Translation of 1927 French edition of Manuale di economia politica con una introduzione alla scienza sociale by Vilfredo Pareto, published by Augustus M. Kelley.

1974
Scritti politici

The book 'Scritti politici' was published in 1974 and edited by Busino. It contains various political writings.

1975
Publication of 'Bibliographie Chronologique des ecrits de Vilfredo Pareto'

In 1975, G. Busino published a chronological bibliography of the writings of Vilfredo Pareto, providing a comprehensive list of his works.

1976
The Paretian Heritage

In 1976, John S. Chipman wrote 'The Paretian Heritage' which is related to the legacy of Vilfredo Pareto.

1980
Compendium of General Sociology

Abridgement of The Mind and Society, translated into English by University of Minnesota Press.

1984
The Transformation of Democracy

Translation of Trasformazione della democrazia, published by Transaction Books.

1987
Pareto as an economist

An article by A. P. Kirman in 1987, discussing Vilfredo Pareto's contributions as an economist in The New Palgrave: A Dictionary of Economics.

1989
Release of 'Bibliografia cronologica di Vilfredo Pareto'

In 1989, a chronological bibliography of Vilfredo Pareto's works was published, specifically focusing on his letters and correspondences.

1991
The Rise and Fall of Elites: An Application of Theoretical Sociology

Translation of essay Un applicazione di teorie sociologiche by Vilfredo Pareto, published by Transaction Publishers.

1994
Two Types of Elite in Society

Pareto's theory suggests that there are two types of elite in society: the governing elite and the non-governing elite, with distinct mentalities of 'speculator' and 'rentier'. The alternation of power between these two types is a natural propensity in healthy societies.

1997
Un uomo e le sue lettere by Pier Carlo Della Ferrara

The book 'Un uomo e le sue lettere' by Pier Carlo Della Ferrara was published in 1997.

1998
Vilfredo Pareto a 100 anni dal 'Cours d'économie politique' by Della Ferrara

The book 'Vilfredo Pareto a 100 anni dal 'Cours d'économie politique'' by Della Ferrara was published in 1998.

1999
Pareto giovane ingegnere by Alessandro Melazzini

A book titled 'Pareto giovane ingegnere' written by Alessandro Melazzini in 1999.

2000
Pareto e il salotto Peruzzi by A. Melazzini

A book titled 'Pareto e il salotto Peruzzi' written by A. Melazzini in 2000.

2001
Pareto's theoretical and practical contributions

A. Melazzini's work explores Vilfredo Pareto's theoretical and practical contributions.

2002
Annoucement of Oeuvres complètes de Vilfredo Pareto

In 2002, an announcement was made regarding the publication of the complete works of Vilfredo Pareto.

2006
Pareto and Contemporary Economic Theory

In 2006, John S. Chipman wrote about the relevance of Vilfredo Pareto's economic theories in the contemporary economic landscape.

2011
Pareto's Republic and the New Science of Peace

A work by Filip Palda in 2011, exploring Pareto's Republic and the concept of the New Science of Peace.

2013
Pareto's Sociological Maximum of the Utility of the Community

Forte F. and Silvestri P.'s exploration of Vilfredo Pareto's sociological concept regarding the utility of the community and the theory of elites, featured in 'Essentials of Fiscal Sociology'.

2018
Introduction to K. Marx by V. Pareto

P. Della Pelle's critical edition introducing Karl Marx's 'Capital' through the perspective of Vilfredo Pareto, providing the Italian text alongside the original work.

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Vilfredo Pareto
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