On July 15, 1848, Italian engineer, sociologist, economist, political scientist and philosopher Vilfredo Federico Damaso Pareto was born. He made several important contributions to economics, particularly in the study of income distribution and in the analysis of individuals' choices. The Pareto principle was named after him and built on observations of his such as that 80% of the land in Italy was owned by 20% of the population.
Plenty more where that came from! (This article is cross posted from my article for OECD Insights where they provide discussion of a wide range of subjects that influence world development) A basic capitalist tenet is that the market represents the
On June 5, 1883, British economist John Maynard Keynes, 1st Baron of Keynes, was born. His work and his ideas have fundamentally affected the theory and practice of modern macroeconomics, and informed the economic policies of governments. He is one of the founders of modern macroeconomics and is widely considered the most influential economist of the 20th century.
The current edition of the OECD’s Education at a Glance, published on 13 September, noted that in 2014, only 28 per cent of the financing of all tertiary education in UK was from public sources, with 72 per cent from private sources, mostly from students. This was the lowest share of public financing in all 33 OECD countries for which figures were available. (WonkHE)
N. Archak, A. Ghose, and P. Ipeirotis. KDD '07: Proceedings of the 13th ACM SIGKDD international conference on Knowledge discovery and data mining, page 56-65. New York, NY, USA, ACM, (2007)