My cousin is an engineer, and he taught me how to use many rules of thumb in figuring and estimation. The 80-20 rule is a useful heuristic that has served me well. Take a minute to read this. Many gems.
Of Two Minds
The Pareto EconomyCharles Hugh Smith
(h/t Zero Hedge)
Sivio Gesell thought that 95% of politics was about obtaining or maintaining rents and that if his land and money reforms were enacted an extraordinary amount of time and energy wasted on politics could be invested in more worthwhile activities.
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