The richest man in Babylon
The richest man in Babylon -or Richest Man in Babylon, by its original title in English— is a self-help and personal development book with a financial focus written by the American soldier and author George Samuel Clason. The work was first published in 1930, through Clason Publishing Company, a successful company that was also owned by the financier.
Despite the date it was launched on the market, The richest man in Babylon It remains a matter of study for experts and personal and business finance enthusiasts, such as the well-known Warren Buffet, who often recommends it in his conferences. In addition, its extensive consumption can be seen on platforms such as Amazon, where it has an average of 4.8 stars.
Synopsis of The richest man in Babylon
A brief allegory in times of Depression
Funny thing about The richest man in Babylon It is not a book about financial techniques, or an endless text about methodologies to become rich, but a short volume of stories. This success by George S. Clason is composed of a series of short parables that help the reader understand how money and saving work.
It also helps to understand what each one is used for. For example: Today it is easy to assume that saving works because it allows you to obtain long-term goods and ensure financial stability.However, in the author's time it was not so common for people to worry about saving money, as they were surrounded by a moment of economic delight.
Editorial background of The richest man in Babylon
During the decade following World War I, Americans began to experience a growing period of well-being. In the Roaring Twenties, consumer spending soared, the stock market soared, and a phrase came into use to define the phenomenon: “comparison at a margin.” Meanwhile, George S. Clason was focusing on a very different concept.
By this time, Clason already owned a successful map-making company, which led him to write pamphlets on frugality and saving money in order to generate wealth. The author compiled his thoughts in pamphlets that he printed and distributed through banks, investment houses and insurance companies.This happened from 1926 onwards.
The stock market crash
Following the stock market crash in 1929, George S. Clason's ideas began to gain much more relevance., so the writer tried to make his financial advice available to a larger number of people. In 1930, he compiled the information from his best brochures and included it in The richest man in Babylon, a book that became a bestseller, taking into account the Depression.
Thus, readers began clamoring for more easy-to-read financial texts, as well as for the author's wisdom on how to generate wealth. On the other hand, The book remained popular over the years, gaining currency as new generations of experts in the economic field they took it up again, They learned from him and recommended him to others who were interested.
narrative style of The richest man in Babylon
Instead of writing a financial book through cold business language, Clason presented his self-help lessons through parables set in ancient Babylon. The volume begins with friends Bansir and Kobbi, who reflect on how much money they have earned in their lives. and how little they have to show for it. Faced with this, they decide to seek the advice of another friend, Arkad.
This was the wealthiest man in all of Babylon, and it was estimated that his fortune continued to grow despite being generous to his family and charitable to others. What follows this encounter is a series of lessons, including “Seven Cures for a Poor Purse” and “The Five Laws of Gold.” These tips cover topics like avoiding debt, finding mentors, and protecting assets..
One of the classic messages included in The richest man in Babylon
“Protect your treasure from loss by investing only where your capital is safe, where it can be recovered if necessary, and where you will not fail to collect a fair return. Consult with wise men. Get advice from those with experience in profitable gold management. Let his wisdom protect your treasure from unsafe investments.” This is part of the lesson “Seven Remedies for a Poor Stock Market.”
The great financiers who have been inspired by The richest man in Babylon
In 1982, the author of bestsellers and speaker Og Mandino included the complete message of the classic book in his own book, The university of successLikewise, Jim Rohn, a legendary businessman and motivational speaker, believed that Clason's volume could serve as a key to financial success for those who applied his principles.
Another of those who let themselves be guided by The richest man in Babylon It was the renowned Brian Tracy. When asked by his fans, the personal achievement expert explained that, despite their age, these parables are still perfectly valid today. According to Tracy: “The book is an introduction to financial success because its principles are simple, direct and effective.”
About the Author
George Samuel Clason was born on November 7, 1874, in Louisiana, United States. He studied at the University of Nebraska, after which he served in his country's army during the Spanish-American War. Throughout his career, Clason He founded two companies: Clason Map Company and Clason Publishing Company.
In fact, The first was the pioneer in publishing a road map of North America. However, these efforts did not survive the period known as the Great Depression, which took place in 1929. Even so, his expertise in finance was noted thanks to The richest man in Babylon, which became a reference book for Americans of the future.