About The Richest Man in Babylon

The Richest Man in Babylon is a book of financial advice written by George Samuel Clason. The book is a collection of fables and stories set in ancient Babylon. Each of the stories lends itself to a financial moral. Clason chose to set the book in ancient times so that it would have a timeless, evergreen quality. Thus, the principles espoused by characters in the book have as much relevance today as they did in the time Clason wrote the book, as well as the time in which these characters lived.

History

The Richest Man in Babylon came from a rather inauspicious beginning. It was published originally as a series of pamphlets that were intended for low distribution. It was not until various banks and insurance companies began distributing these pamphlets to their customers that the public as a whole took interest. As a result, the book was published in 1928 as a compilation of the best of these pamphlets. Throughout its time in publication, more than two million copies have been sold.

Expert Insight

Though the book is comprised of many stories, the titular tale is about two friends who discuss their financial hardships and remember fondly a friend they grew up with, who is now the richest man in Babylon. Intrigued by his success, they go to see this friend and ask him how fate has conspired to make him so wealthy, while they continue to struggle. Arkad, the friend, dismisses this idea, and informs his old friends that fate had nothing to do with his wealth. He tells his old friends that he learned early the value of saving ten percent of his earnings, and that, upon doing so, his wealth gradually began to grow. On top of that, he says, people of means will naturally seek each other out, which provides further opportunities to make great amounts of money. The lesson is one that never goes out of style, and it is one of living below your means so that you have plenty for the future.

Time Frame

George Clason was born in Missouri in 1874 and lived an adventurous life, going from the University of Nebraska to the U.S. Army in the days of the Spanish-American War. In his time following his service, Clason embarked on a life of entrepreneurship, which included starting several businesses. One of these companies was the Clason Map Company, which did not fare as well as his Clason Publishing Company. It was with this latter company that he began publishing the pamphlets that would later be compiled into The Richest Man in Babylon.

Significance

In addition to providing common readers with a path to financial responsibility, The Richest Man in Babylon has become one of the most cited works in the 20th century. Over one hundred financial nonfiction tomes have cited Babylon as either an inspiration or in a more direct fashion. For example, in his book The Wealthy Pauper, Fabio Marciano uses much of the teachings of Babylon and comprises them into his own tale of how to turn rags into riches. The book has also been used at myriad financial conventions and motivational-speaking engagements.

Types

Throughout its years in publication, The Richest Man in Babylon has been printed in over thirty languages and 26 countries around the world. The book has been made available as an e-book download from several online publishers, and a special edition of the book was published in 2002 by Signet. The book is widely available in both online bookstores and brick-and-mortar establishments.