Themes

• Financial discipline and saving

• Wise investment and wealth growth

• Living within one's means

• Protecting and preserving wealth

• Planning for the future

• Continuous self-improvement

• Avoiding get-rich-quick schemes

Setting

The Richest Man in Babylon is set in ancient Mesopotamia, specifically in the city of Babylon, which was once a thriving center of commerce and culture. The story takes place approximately 4,000 years ago, during the height of the Babylonian civilization, when the region was known for its wealth, technological advancements, and architectural marvels.

While the book doesn't specify exact dates, it portrays a bustling urban environment where trade, finance, and entrepreneurship flourished. The setting allows readers to explore timeless financial principles through the lens of an ancient society, making the lessons both exotic and relatable. Babylon, situated along the Euphrates River in what is now modern-day Iraq, serves as the backdrop for the characters' financial journeys and revelations.

Throughout the narrative, readers are transported to various locations within the city, including marketplaces, temples, and the homes of both wealthy and poor inhabitants. This rich tapestry of ancient Babylonian life provides a vivid context for the financial parables and advice presented in the book, illustrating how fundamental economic principles have remained constant across millennia.

Key Figures

• Arkad: The central character and titular “richest man in Babylon". A former poor scribe who became wealthy through following financial principles. Arkad shares his wisdom through parables and serves as the primary source of financial advice in the book. He emphasizes saving, living below one's means, and making wise investments.

• Bansir: A chariot builder and friend of Kobbi. He is struggling financially at the beginning of the book and seeks advice from Arkad. Bansir represents the everyman who is looking to improve his financial situation.

• Kobbi: A musician and friend of Bansir. Like Bansir, he is also poor and seeking financial wisdom. Kobbi accompanies Bansir to learn from Arkad.

• Algamish: A wealthy money lender who becomes Arkad's mentor. He teaches Arkad the importance of saving and investing, setting him on the path to wealth.

• Mathon: A gold lender in Babylon who shares his experiences and wisdom about lending money. He appears in one of the later parables in the book.

• Sharru Nada: A merchant prince who tells the story of his rise from slavery to wealth. His tale emphasizes the value of hard work and determination.

Quick facts

• The book was originally published as a series of pamphlets distributed by banks and insurance companies in the 1920s.

• It was first published as a complete book in 1926, nearly 100 years ago.

• The financial advice is presented through parables set in ancient Babylon, 4,000 years in the past.

• The main character dispensing wisdom is a fictional Babylonian named Arkad.

• It introduces the concept of “paying yourself first” by saving at least 10% of your income.

• The book outlines “Seven Cures for a Lean Purse” and the “Five Laws of Gold."

• It has sold over 2 million copies and remains in print today.

• Many modern financial experts cite this book as an influence on their thinking.

• An illustrated hardback edition published by Clason in 1930 now sells for around $1,250.

• The book's timeless advice has inspired many modern derivative works and interpretations.

About the Author

George Samuel Clason (1874-1957) was an American author, businessman, and soldier best known for his influential book The Richest Man in Babylon. Born in Louisiana, Missouri, Clason served in the United States Army during the Spanish-American War before embarking on a diverse career that spanned multiple industries.

In the early 1900s, Clason demonstrated his entrepreneurial spirit by founding two companies: the Clason Map Company and the Clason Publishing Company. The former gained distinction as the first publisher of a road atlas covering both the United States and Canada. However, like many businesses of the era, it ultimately succumbed to the economic pressures of the Great Depression.

Clason's lasting legacy began in 1926 when he started writing a series of informational pamphlets on financial success and thrift. These pamphlets, which used parables set in ancient Babylon, quickly gained popularity and were widely distributed by banks and insurance companies. The most famous of these parables were eventually compiled into The Richest Man in Babylon, a book that has since become a classic in personal finance literature.

Throughout his life, Clason experienced both personal and professional changes. He was married twice and had two children who followed in his literary footsteps. In his later years, Clason relocated to Napa, California, where he spent the final chapter of his life until his passing in 1957. His work continues to influence readers, with Clason being credited for popularizing the financial advice to “Pay yourself first."