For those unfamiliar with the word Pareto, it is the last name of an Italian Statistician/ Economist who in the thirties noticed that a great many natural phenomenon followed what came to be called the 80/20 Rule - namely that very often if one was trying to identify which of several items was causing the most improvement in a given operation they should first order the potential causes in descending order of their magnitude.
When this was done what Pareto noted was that very often only 20% of the items accounted for 80% of the desireable effects.
If this principle were followed today for the disribution of wealth in the US economy one would therefore expect to find that 80% of the wealth was concentrated in the hands of 20% of its citizens.
But what do we find instead?
We find that as of 2007, the last year for which we have reliable data, 93% of the wealth is concentrated in the hands of just 1% of the people.
Pareto must be spinning in his grave don't you think?
What on earth could turn this once highly reliable tool so badly on its head?
Keep reading-
Its really not hard to figure out at all and of course once we know the cause we also know the cure.
The cause very simply is that in the US it is the wealthy who are writing the rules that govern the distribution of wealth and guess just which side they will likely favor in this endeavor.
And then it should be very easy to figure out how to reverse this situation and get back to a more natural distribution .
We have to stop electing the very rich to high office in the government.
And to start that movement in high gear we might want to consider impeaching several current members of both the Supreme Court which codified Rule by the Rich in Citizens United and the Congress which since the days of Ronnie Raygun have been systematically beggaring the poor and downtrodden in the country.
Of ourse there are many other ways to achieve this end and I am sure the audience can add them to this rant
So Fire Away and don't be gentle. This is a very serious matter.