The Richest Man in Babylon | The Probabilist . com

The Richest Man in Babylon October 31, 2006

Posted by The Probabilist in : [Books], Financial Literacy, Personal Growth, Vision, Wealth, Work, Investing, History , trackback

George S. Clason wrote this timeless classic in 1926 and it’s based on stories, parables and clay tables dating 4,000 to 6,000 years ago from the ancient civilization of the Babylonians. It goes on explaining the simple and effective laws of how to handle money, which show the path leading to improved personal wealth. The people of Babylon discovered this path to be attainable by anyone and the same laws are just as true and just as easy to grasp to this day. This is the book everyone ought to read no matter what your previous knowledge and experiences in financial literacy are. So if you’re troubled by the stringency of a lean purse, start by listening to the words of Arkad, the richest man in Babylon.

The chapters in the book are separate stories by people with a certain money problem and how they were able to solve it. Bansir, the chariot builder is troubled by always working hard and having nothing to show for. He goes with his friends to Arkad to seek his wisdom and advice. Arkad tells them the story of his youth and how it came to a turning point when he learned and adapted the first law of gold as taught by Algamish. Later, the king of Babylon sends for Arkad and wishes him to share the knowledge so that all the people in Babylon may become rich. Arkad then presents the seven cures for a lean purse to 100 men who may pass the knowledge onwards. At the Temple of Learning many men discuss the power of luck and reach a conclusion on why some people are more favored by its goddess. Arkad’s last appearance in the stories is when he gives his son Nomasir a bag of gold and a tablet with the five laws of gold and sends him away from Babylon not to return until ten years have passed and he gives an account of himself.

Following, Mathon, the gold lender guides whom to lend money to should one be smart or fortunate to acquire a great sum. Dabasir, the camel trader tells an inspiring story of how to face your debts and see the world with its true color once again and gain respect among others. Dabasir engraved his efforts on clay tablets and a professor in the 1930s tells how after translating them he too adapted this plan in order to eliminate his debt spiral and move to the path of riches. The last story is told by Sharru Nada on how he was able to become a rich man after being put into slavery. He did it all by learning a valuable lesson, which made him the luckiest man in Babylon.

This is a small and cheap book, readable in a few hours. However, don’t fall under the false impression that the lessons are too simple. The laws and parables are simple, but executing a plan takes effort and the right mindset. Throughout our lives we can all perfectly relate to some of the stories told so I can’t find a single reason not to recommend this book to each and everyone. And the reason I wrote my first review on this particular book is because I find it to be the best starting book to discover the first steps of personal wealth creation. Reading it you will understand fully why money can’t solve money problems.