Vilfredo Pareto was born in Paris on July 15, 1848, but was raised in Italy. He attended Turin University, studying mathematics and physics, graduating in 1867. Pareto then attended the school of engineering in Turin, graduating in 1870. He worked as an engineer, and eventually became the director of a railroad company.
Pareto then turned to the study of politics, sociology, and economics. In 1893 he was appointed as professor of political economy at the University of Lusanne in Switzerland. Pareto is best known for his mathematical approach to economics and sociology. Perhaps his most influential book was Trattato di Sociological Generale (The Mind and Society) published in 1916, which explored the relationship between individual and social action. Pareto's belief in the superiority of an elite class is thought to have contributed to the rise of Fascism in Italy.
To students of probability, Pareto is best known for the probability distribution that bears his name, which he used to model the distribution of income.
Pareto died on August 19, 1923 in Lusanne, Switzerland.