The Richest Man in Babylon explained
The Richest Man in Babylon is a 1926 book by George S. Clason that dispenses financial advice through a collection of parables set 4,097 years earlier, in ancient Babylon. The book remains in print almost a century after the parables were originally published, and is regarded as a classic of personal financial advice.
Background
The parables are told by a fictional Babylonian character called Arkad, a poor scribe who became the "richest man in Babylon". Included in Arkad's advice are the "Seven Cures" (or how to generate money and wealth), and the "Five Laws of Gold" (or how to protect and invest wealth). A core part of Arkad's advice is around "paying yourself first", "living within your means", "investing in what you know", the importance of "long-term saving", and "home ownership".[1]
The content is from a series of pamphlets distributed by U.S. banks and insurance companies in 1920–24; the pamphlets were bound together and published as a book in 1926.[2] [3] The book is often referred to as a classic of personal financial advice,[4] [5] and appears in modern recommended reading lists on personal financial advice and wealth management,[6] [7] [8] which has kept the book in print almost 90 years after its first edition with over 2 million copies sold.[9] [10]
Clason himself published an illustrated hardback edition in 1930 titled The Richest Man in Babylon and Other Stories which now sells for USD 1,250.[11]
The unusual structure of the book has inspired many modern derivative works providing further discussion and insights on the parables.[12] [13] [14]
Structure
The original 1926 book groups the parables into general themes of advice, and particularly "The Seven Cures" and the "Five Laws of Gold".[1] [15]
Some themes can overlap (e.g. The First Cure is similar to the First Law of Gold).[15]
Other parables
The final chapters of the 1926 book cover individual parables:[15]
- The Gold Lender of Babylon. Better a little caution than a great regret.[15]
- The Walls of Babylon. We cannot afford to be without adequate protection.[15]
- The Camel Trader of Babylon. Where the determination is, a way can be found.[15]
There is then an unusual section where a contemporary archeologist reveals five clay Babylonian tablets (numbered I to V), whose inscriptions provide short parables.[15]
The final chapter in the 1926 book is on The Luckiest Man in Babylon.[15]
See also
External links
Notes and References
- Web site: 7 steps to get rich, from a 90-year-old book on wealth that's still relevant today. Business Insider. Kathleen Elkins. 17 December 2015. 23 March 2019.
- Grable . John E. . 2005 . The Richest Man in Babylon for Today: New Secrets for Building Wealth in the 21st Century . Journal of Personal Finance . 4 . 1 . 86–89 . Nearly every financial consultant knows of the classic book "The Richest Man in Babylon.".
- News: December 18, 2016 . Lessons from 'Richest Man in Babylon' . New Straits Times .
- The Richest Man in Babylon. Rick Ferri. 1 September 2010. 23 March 2019. Forbes. The book has become an inspirational classic to millions of readers and despite being set thousands of years ago in the historical city of Babylon. The stories and principles seem just as applicable today as they did in ancient times..
- Web site: 5 truths about money, from a 90-year-old personal finance classic. Business Insider. Kathleen Elkins. 23 December 2015. 23 March 2019. "Without wisdom, gold is quickly lost by those who have it, but with wisdom, gold can be secured by those who have it not," writes George S. Clason in his 1926 personal finance classic "The Richest Man in Babylon," a collection of parables based in the ancient city of Babylon..
- Web site: 12 books to read in 2017 if you want to get rich. CNBC. "Number 6: The Richest Man in Babylon. 23 March 2019. 21 December 2016.
- News: Best books for investors. Wall Street Journal. 14 August 2014. 23 March 2019.
- News: The Experts: The Best Financial Advice for Young People Starting Out. 24 April 2013. 23 March 2019. WSJ Wealth Management Report. Wall Street Journal .
- Web site: Timeless Tips From The "Richest Man In Babylon" . ValueWalk. 23 July 2015. 23 March 2019. In 1926, he combined these essays into a book titled, The Richest Man in Babylon. To this day, that book remains in print.. David Smith.
- News: How to become wealthy - the ancient way. Irish Independent. Joe Barry. 6 April 2016. 23 March 2019.
- Web site: rare first privately printed edition of George Samuel Clason's the Richest Man in Babylon. Raptis Rare Books. 23 March 2019. Denver: The Clason Publishing Co, 1930. Rare first privately printed edition of George Samuel Clason’s classic work. Octavo, original cloth over marbled boards, illustrated..
- Book: George S. Clason's The Richest Man in Babylon: A 52 brilliant ideas interpretation (Infinite Success Series). November 2008. Karen McCreadie. 978-1905940974 . 126. Infinite Ideas.
- Web site: The Richest Man in Babylon.In Action: Based on the All-Time Classic Book by George S. Clason . Dan Strutzel . Nightingale-Conant. October 2014. B00OH74116.
- Book: The 7 Cures of a Lean Purse in the 21st Century: The secrets of growing rich from the richest man in Babylon. January 14, 2018. 978-1976897832. Zedekiah Kikenyi. 57. Independently Published .
- Web site: Full Text of The Richest Man in Babylon . 23 March 2019.
