Birthplace Paris, France.
Posts Held Engineer, 1870-92, Prof., Univ. Lausanne, 1893-1900.
Degrees BS Eng., Polytechnic Inst., Turin, 1869.
Offices and Honours Senetor.
Publications Books: 1. d'économie politique (1896-7, 1964); 2. Systèmes socealistes (1902-3, 1965); 3. Manual of Political Economy (1906, 1909, 1971); 4. The Mind and Society: A Treatise on General Sociology , 4 vols (1916, 1963).
Articles: 1. `Mathematical economics', Encyclopédie des Sciences Mathématique , 1911, repr. in International Economy Papers , 5, eds. A. T. Peacock, et al . (Macmillan, 1955); 2. `Mathematical economics', Encyclopédie des Sciences Mathématique , 1 (4), repr. in Precursors in Mathematical Economics: An Anthology , eds. W. J. Baumol and S. M. Goldfeld (1968).
Career Italian engineer economist, whose mathematical ability led to his appointment as Walras' successor at Lausanne. In the Manual ... he worked out an improved version of general eqilibrium theory and demonstrated the restricted sense in which perfect competition achieved an optimal solution. He made important contributions to the discussion of the methodology of economics and the place of the discipline in the social sciences as a whole. His distinction between cardinal and ordinal utility and between an individual and a collective opimum were major theoretical contributions.
Secondary Literature J. A. Schumpeter, `Vilfredo Pareto', in Ten Great Economists from Marx to Keynes (OUP, 1951); G. H. Bousquet, Vilfredo Pareto: Le savant et l"homme (Payet et Fil, 1960); M. Allais, `Pareto, Vilfredo: contributions to economics', International Encyclopedia of the Social Sciences , D. L. Sills (ed.) (Macmillan and Free Press, 1968), vol. 11; W. J. Samuels, Pareto on Policy (Elsevier, 1974).