The 80 / 20 Rule.
Discussion
In business it is a common analogy used for ~ 20% of your business (ie customers or products) being responsible for ~ 80% of the profit made.
Could a similar statistic be applied to voting, humans in general eg, winners/losers and even crime statistics?
This means we will always be buggered because more stupid people are allowed to vote than the minority who actually know what they are talking about?
Could a similar statistic be applied to voting, humans in general eg, winners/losers and even crime statistics?
This means we will always be buggered because more stupid people are allowed to vote than the minority who actually know what they are talking about?
collateral said:
I don't think the hypothesis works - what if that 20% of your customers are paying too much? That probably makes them the dumb ones...
It does work, it tends to be a common mistake that business owners concentrate a lot of effort on the least profitable areas, hence the analogy. Also good customers tend to put more business your way, it has nothing to do with them paying more.Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff