The Pareto Principle Is about Mindfulness
Monday, October 31st, 2005
Adrian Savage, the creative force behind lifehack, wonders if the Pareto Principle1 can reliably be put to use in today's posting How Useful Is the Pareto Principle? He concludes that the principle is useless if it only after-the-fact describes the membership of the 20% group. Adrian misunderstands how the principle is effectively used on a prospective basis. He writes,
'My guess is the Pareto Principle distinguishes groups you can only find after the event, once you can see what worked and what didn’t. If that’s so, the Principle is almost worthless as a guide to future action, which is how it’s most often used.'
Since it is not possible to collect facts about the future we are left to making assessments. The Principle provides a way of giving weight to our assessments for the sake of planning.
Adrian does understand that we cannot know for certain what the future holds. He argues that we cannot know what 20% subset of all our possible actions will yield the 80% of desired results. Again, I agree. So are we to subscribe to a random walk of life? I think not. From reading Adrian's postings on other topics, I doubt he would either. We all have learned that some of our actions are more effective for us in some circumstances than they are in other circumstances. This tacit knowledge allows us to respond somewhat effectively and without deliberation as we encounter our everyday world. That tacit knowledge is called upon as we make observations and assessments. Read the rest of this entry ¶
- Italian economist who noticed the concentration of wealth and then generalized the finding to other areas of life [ ⇑ back ]
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