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Jay's Tuesday Free Enterprise Quote - 1 May 2012
"Democratic government has this fundamental problem:  In broad terms, 20 percent of the people do most of the productive work and create most of the nation's wealth, but the other 80 percent command a heavy majority of votes."
Thomas G. Donlan
Well, this is certainly another view of the 1%!
It is also another take on the old "Pareto Principle," that everyone learns about in Econ 101 - the old 80/20 rule. 
This doctrine stems from the 1906 statement of an Italian economist named Vilfredo Pareto.  He observed that 80% of the land in Italy was owned by 20% of the people.  He was also a gardener, noticing that 80% of the peas in his garden came from 20% of the pods.
Considering this a natural occurrence, in both ways, he came up with his 80/20 economic principle.  Looking around at business activity, society incomes, a company's sales, and so forth, it is pretty much true all across the board! 
Generally speaking, in business, 80% of the profits come from 20% of the products; 80% of the sales are produced by 20% of the sales people; 80% of the profits come from 20% of the customers.  This goes on.  In this ... more

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