Off subject, but I hovered over you name to see your profile blurb, professor, background financial economics. I majored in Finance, we learned about the Pareto principle, 80-20 rule, and some of his other contributions to economic theory. But I never learned more about the man, Vilfredo Pareto, until recently. Quick wiki (gov't approved…
Off subject, but I hovered over you name to see your profile blurb, professor, background financial economics. I majored in Finance, we learned about the Pareto principle, 80-20 rule, and some of his other contributions to economic theory. But I never learned more about the man, Vilfredo Pareto, until recently. Quick wiki (gov't approved narrative) searches made me more curious about him, wonder if you've every looked deeper into him?:
His theory is consistent with the ideas of big political theory influencers like Harold Lasswell and Noam Chomsky. Of note, in Chomsky's Manufacturing Consent is this idea:
"You know, it’s very striking that continually people move from one position to the other, very easily. And I think the reason for the ease is partly because they’re sort of the same position. So you can be either a Marxist-Leninist commissar, or you can be somebody celebrating the magnificence of State capitalism, and you can serve those guys. It’s more or less the same position. You pick one or the other depending on your estimate of where power is, and that can change."
I believe this idea to be instructive about our time, the trajectory our civilization is on and how to change it. Those leading it aren't necessarily wedded to Marxism/Fascism or any particular ideology, ideas of governance. Just that they want to hold high status in it, whatever "it" is. Our opportunity is in changing their estimate of where power is.
The "elites" circulate, as Pareto described. And I was inspired to share this with you in hopes that as a financial economics professor you may have familiarity with his other theories and principles. And through them have an opportunity to spark curiosity in young minds about his non-economic theories that are valuable knowledge to have.
Off subject, but I hovered over you name to see your profile blurb, professor, background financial economics. I majored in Finance, we learned about the Pareto principle, 80-20 rule, and some of his other contributions to economic theory. But I never learned more about the man, Vilfredo Pareto, until recently. Quick wiki (gov't approved narrative) searches made me more curious about him, wonder if you've every looked deeper into him?:
https://en.wikipedia.org/wiki/Vilfredo_Pareto
Specifically his "Circulation of Elites" theory:
https://en.wikipedia.org/wiki/Circulation_of_elites
His theory is consistent with the ideas of big political theory influencers like Harold Lasswell and Noam Chomsky. Of note, in Chomsky's Manufacturing Consent is this idea:
https://chomsky.info/19890315/
"You know, it’s very striking that continually people move from one position to the other, very easily. And I think the reason for the ease is partly because they’re sort of the same position. So you can be either a Marxist-Leninist commissar, or you can be somebody celebrating the magnificence of State capitalism, and you can serve those guys. It’s more or less the same position. You pick one or the other depending on your estimate of where power is, and that can change."
I believe this idea to be instructive about our time, the trajectory our civilization is on and how to change it. Those leading it aren't necessarily wedded to Marxism/Fascism or any particular ideology, ideas of governance. Just that they want to hold high status in it, whatever "it" is. Our opportunity is in changing their estimate of where power is.
The "elites" circulate, as Pareto described. And I was inspired to share this with you in hopes that as a financial economics professor you may have familiarity with his other theories and principles. And through them have an opportunity to spark curiosity in young minds about his non-economic theories that are valuable knowledge to have.