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On the European continent, increasingly popular right-wing parties such as Marine Le Pen’s Front National and the German Alternative für Deutschland, as well as Poland’s ruling Law and Justice party, delight in denouncing the “Eurocratic” elites.
But where does the term “elite” come from, and what does it mean?
We mostly think of Pareto as the economist who came up with ideas such as “Pareto efficiency” and the “Pareto principle”.
Every thing had been done by the Indians to render this show as intimidating as possible.
But, so far from intimidating him, this only the more confirmed him in his convictions and fervency.
The latter – sometimes known as the “power law”, or the “80/20 rule” – stipulates that 80 per cent of the land always ends up belonging to 20 per cent of the population.
Pareto deduced this by studying land distribution in Italy at the turn of the 20th century.
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co.