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Events on Sunday 19 August 1923 1
1848 – 1923Vilfredo Pareto (1848-1923)Died 19 August 1923, aged 75Vilfredo Pareto was an Italian economist and sociologist known for the Pareto principle and his work on income distribution and elite theory. His concept of Pareto efficiency remains foundational to welfare economics. He died in Celigny, Switzerland.