The Richest Man In Babylon Summary

Book Review: The Richest Man in Babylon The “Richest Man in Babylon” is a book made up of a series of pamphlets that were written by George S Clason in 1926. These pamphlets contain a plethora of knowledge about finances and managing your wealth. Clason uses a series of tales that are staged in ancient Babylon to communicate his valuable ideas. The way that the applications of money handling are applied to these stories makes them engaging, but also very informative and practical. So practical, in fact, that they can be applied by those of modern day and be used to an even greater reward than they could almost 100 years ago when they were written. In the following pages, the most pronounced of Clason’s glorious stories will be summarized and evaluated so that every ounce of their worth and purpose can be seen. The first section is titled, “The Richest Man in Babylon”, like the book. This chapter tells the story of Arkad, one of the richest men in Babylon, who is approached by his friends hoping he will unveil his source of wealth. Arkad tells them of his story of rise to riches. He began his life as a tablet maker, constantly laboring, but never having any money left to show for it. To cure his lean purse, he pursued a rich man in the city to tell him the secret
It recounts the advice of a gold lender in Babylon, named Manthon, on how to handle debt, loans, and investments. Manthon first shows a chest he has which contains articles from those who he has lent money to, until they repay their loan. He tells of how eager people are to spend, but not to save. Thus, they end up in debt or acquiring unwise loans. If someone comes to you for a loan, you must understand what they will use it for and their ability to repay it. It is hard to acquire stores of gold and, if you lend it out unwisely, you will lose your wealth. As a result, it is better to use a little caution, than have a great