The World Is Not Normal: Understanding Power Laws
Some things are not normal.
By that, I mean that if you go out into the world and start measuring things like human height, IQ, or the size of apples on a tree, you will find that most of the data clusters around some average value.
This pattern is so common that we call it the normal distribution.
But not everything in life behaves this way.
courtesy: Varitasium
Pareto’s Discovery
In the late 1800s, Italian engineer Vilfredo Pareto stumbled upon something no one had really seen before.
He suspected there might be a hidden pattern in how much money people make. So he gathered income-tax records from Italy, England, France, and other European countries. For each country, he plotted the distribution of income.
And everywhere he looked, he saw essentially the same pat...










