The 11 Lessons of “The Richest Man in Babylon” by George S. Clason: Book Review

The 11 Lessons of The Richest Man in Babylon by George S. Clason: Book Review

The Richest Man in Babylon, By George S. Clason

Quick Stats

Author: George S. Clason

Copyright: 1926

Publisher: Signet

Pages: 144

Genre: Business Parable

Ratings (Out of 10)

Overall/Composite: 9.9

Entertaining/Easy-Read: 9.8

Insightful/Interesting: 9.9

Technical/Complicated: 3.6

Importance/Relevance: 10

The Skinny

Synopsis: “Lo, Money is Plentiful for Those Who Understand the Simple Rules of its Acquisition.” George Clason just nails it. This book teaches the most profound truths, principles, and rules for acquiring wealth in a very subliminal way – that is, you won’t even realize you are learning! The characters and language with which Clason portrays each lesson draws you in with each turn of the page. In this historic, dialogical narrative we are taught The 7 Cures For a Lean Purse and The 5 Laws of Acquiring Gold through the lives of 10 main characters:

1. Bansir, The Chariot Builder – reminds us that, in the words of Napoleon Hill, “Desire is the starting point of all achievement.”
2. Arkad, The Richest Man in Babylon – teaches us about the Character of Wealth, The 7 Cures For a Lean Purse, and The 5 Laws of Acquiring Gold.
3. Nomasir, Son of Arkad – tells of the fruits of dedication and perseverance as he applied the lessons of his father during the passing through adulthood.
4. Kalabab, The storyteller – speaks of the essential ingredient at the heart of acquiring great wealth: Accountability.
5. Mathon, The Gold Lender – educates us on the importance of discretion, how we might best help those in financial need, and the business of multiplying gold.
6. Banzar, The Soldier – reinforces the long-term safety, security, and benefits of the civilization that possesses a rich understanding of acquiring wealth.
7. Debasir, The Camel Trader – reveals the spiritual bondage of debts and the freedom of wealth as he recounts his own tale.
8. Sharru Nada, The Merchant Prince – explains why a spirit of humbleness must accompany anyone that would desire great success.
9. Megiddo, The Slave – enjoys a lifetime of happiness as he experiences the blessings and goodness that come from work ethic and hustle.
10. Godoso, The Guard – advises us to always put our best foot forward; that no matter what we should be eager to work diligently.

Clason, himself, teaches us the eleventh lesson at the Temple of Learning in a very conversational style, not unlike in Plato’s Republic. One evening Arkad engages his audience with a philosophical debate on luck, gambling, and procrastination. He takes great care in outlining his arguments which, ultimately, lead us to a profound realization: “Good luck can be enticed by accepting opportunity.”

He reminds us that there is much more to wealth and prosperity than luck. At it’s essence, being “The Richest Man in Babylon” becomes a science, a pattern, a set of principles by which anyone may apply and experience a lifetime of richness. This book will absolutely change your life. Authors rarely sell a million copies of a book – this one has already sold over TWO million. Get it, read it, apply it.

Review: There is just no question about it: until mankind REALLY desires something, he takes no action which may lead him to its acquisition. Of course, this is human nature; and while the truth value of this claim may seem plainly obvious, there are many people who grumble at their situation in life – dissatisfied with their circumstances but unwilling to change.

Bansir, The Chariot Builder – and the Desire For More

It certainly makes sense that Clason would begin with a man who wishes to improve his station in life. Bansir questions his friend Kobbi, The Musician, about where they are, the dreams they share, and how they might attain them. After each recognizing the other does not have the right answers to their questions, Kobbi suggests that, perhaps they should seek the counsel of success.

It is this definiteness of purpose that leads these two men on their way to meet with The Richest Man in Babylon.

Arkad, The Richest Man in Babylon – and the Character of Wealth

Upon our first encounter with Arkad it immediately becomes clear that this is a man who has dedicated his life to learning, mastering, and teaching the laws of the acquisition of wealth. Although we are told he is liberal in his spending and giving, clearly he is generous with his time and knowledge as well.

George Clason spends a great deal of the book talking about luck, opportunity, and desire; and the very first words we hear out of Arkad’s mouth are referring to his being “lucky”.

“If you have not acquired more than a bare existence in the years since we were youths, it is because you either have failed to learn the laws that govern the building of wealth, or else you do not observe them.”

” ‘Fickle Fate’ is a vicious goddess who brings no permanent good to anyone. On the contrary, she brings ruin to almost every man upon whom she showers unearned gold.”

… “I decided that if I was to achieve what I desired, time and study would be required.”

“As for time, all men have it in abundance. You, each of you, have let slip by sufficient time to have made yourselves wealthy. Yet, you admit, you have nothing to show except your good families, of which you can be justly proud.”

To Arkad, being wealthy is part of one’s character. He does not rely on luck, nor would he if given the option. The starting point toward becoming wealthy begins by finding the path of wealth, and Arkad describes where it was that he found this road:

“I found the road to wealth when I decided that a part of all I earned was mine to keep. … It should not be less than a tenth no matter how little you earn. … Do not buy from the clothes-maker and the sandal-maker more than you can pay out of the rest and still have enough for food and charity and penance to the Gods.”

Discipline and miserly habits are what first bring us to the road. It is interesting that the key to wealth, at least from Arkad’s point of view, is not to earn more or leverage more of what he has – it is simply to exhibit self-control. Once he began implementing this fundamental wealth-building strategy into his daily life he says of its practice:

“And strange as it may seem, I was no shorter of funds than before.”

Usually the most difficult part of any task is just getting started. The amount of energy required to get a boulder moving is a great deal more than the amount of energy required to keep it moving. This is true in the mental and spiritual world just as it is in the physical world. Our habits – anything that requires daily attention – actually become easier the longer we give them precedence. Arkad would argue that it is the sum total of small decisions one makes on a daily basis which determines the results one may enjoy.

There is a saying that, “Luck is what happens when opportunity and preparedness meet.” After successfully observing the discipline over one’s self, the next milestone along the path of great wealth is learning to take advantage of opportunities as they come. There is another saying which goes, “Preparation is knowing that you deserve to win.” From these aphorisms (great truths) it becomes clear that those who would do well in life are the same who would study in their free time, sharpen their skills, consult with those who have enjoyed similar successes as those desired, and acquire all of the knowledge associated with prosperous living. Arkad reminds us that:

“Opportunity is a haughty goddess who wastes no time with those who are unprepared.”

Once opportunities begin to present themselves with regularity, a man has but to take action and accept complete responsibility over that which has been entrusted to him. It is at this point Arkad reveals where wealth comes from:

“Wealth grows wherever men exert energy.”

The 7 Cures For A Lean Purse

1.) Start thy purse to fattening

“For every ten coins thou placest within thy purse take out for use but nine. Thy purse will start to fatten at once and its increasing weight will feel good in thy hand and bring satisfaction to thy soul.”

2.) Control thy expenditures

“That which each of us calls our ‘necessary expenses’ will always grow to equal our incomes unless we protest to the contrary. Confuse not the necessary expenses with thy desires.”

3.) Make thy gold multiply

“A man’s wealth is not in the coins he carriers in his purse; it is the income he buildeth, the golden stream that continually floweth into his purse and keepeth it always bulging.”

4.) Guard thy treaures from loss

“Guard thy treasure from loss by investing only where thy principal is safe, where it may be reclaimed if desirable, adn where though will not fail to collect a fair rental. Consult wth wise men. Secure the advice of those experienced in the profitable handing of gold. Let their wisdom protect thy treasure from unsafe investments.”

5.) Make of thy dwelling a profitable investment

“If a man setteth aside nine parts of his earnings upon which to live and enjoy life, and if any part of this nine he can turn into a profitble investment without detriment to his well-being, then so much faster will his treasures grow”

6.) Insure a future income

“Provide in advance for the needs of thy growing age and the protection of thy family.”

7.) Increase thy ability to earn

“Cultivate thy own powers, to study and become wiser, to become more skillful, to so act as to respect thyself. Thereby shalt thou acquire confidence in thyself to achieve thy carefully considered desires.”

The 5 Laws of Gold

1.) Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family.

2.) Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.

3.) Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.

4.) Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep.

5.) Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.

Nomasir, The Son of Arkad – and the Application of Wisdom

The story of Nomasir, Son of Arkad, is a tale of hope for us all. When he was of age, his father sent him to Nineveh with a comfortable sum of gold and clay tablets upon which are inscribed the wisdom for acquiring wealth. After losing his small fortune to poor discretion he begins to meditate and live out the 5 Laws of Gold.

Though it doesn’t happen overnight, Nomasir is able to become one of the most wealthiest men in all of Nineveh at a very young age – and without the assistance of his father.

Jim Rohn, one of the most successful business philosophers of all time, once said that where you end up in 5 years is determined by two things: The books you read and the people you associate with, and we might add a third element: The goals that you set. Listen as Nomasir recounts his experiences that led to his success:

“At this time, I bethought me of the table thou had given to me upon which thou had carved the five laws of gold. Thereupon, I read most carefully thy words of wisdom, and realized that had I but sought wisdom first, my gold would not have been lost to me. I learned by heart each law and determined that, when once more the goddess of good fortune smiled upon me, I would be guided by the wisdom of age and not by the inexperience of youth.” [books you read]

“In due time, I was accepted as a member of this same group in other ventures. They were men wise in the profitable handling of gold … Through my association with these men, I learned to safely invest gold to bring profitable returns.” [people you associate with]

“Profiting from my knowledge of the first law of gold, I saved a copper from my first earnings, adding to it at every opportunity until I had a piece of silver. It was a slow procedure, for one must live. I did spend grudgingly, i admit, because I was determined to earn back before the ten years were over as much gold as you, my father, had given to me.” [goals you set]

Perhaps the most amazing part of the story is that the “books” that Nomasir read was actually just the clay tablet upon which his father inscribed The 5 Laws of Gold. Nomasir represents the man or woman who stands at the footpath of the long road leading to great wealth. He is eager to learn, willing to put himself out there, and maintains a positive mental attitude through his moments of grief and despair. Nomasir knows that as long as he trusts in the proven principles set forth by his father that he will ultimately succeed.

Kalabab, The Storyteller – and the Importance of Accountability

We don’t actually hear of Nomasir’s tale from himself directly. It is from Kalabab at the Temple of Learning that we hear of this fantastic lesson. At the end of all of this, Kalabab turns to the hundreds listening to the story and asks them:

“Who among thee can go to thy father or to the father of thy wife and give an account of wise handling of his earnings?”

Kalabab is a man of integrity, as his questions obviously reveal something of his character. He is a man of the town, wealthy himself, and we can assume that he is connected with the most influential, powerful, and productive members of Babylon by observing the law of human nature: Likes attract – not differences.

He recognizes that there is a cost to being wealth – the cost of discipline and self-control. In fact, he refers to the process of accumulating wealth as “bearing a burden”. Clearly it is a decision that is made daily of whether one becomes wealthy or not:

“Wealth that comes quickly goeth the same way.

Wealth that stayeth to give enjoyment and satisfaction to its owner comes gradually, because it is a child born of knowledge and persistent purpose.

To earn wealth is but a slight burden upon he thoughtful man. Bearing the burden consistently from year to year accomplishes the final purpose.”

It is being accountable not just to others but to one’s self also. Of course, the saying goes, “You’ve got to be true to yourself.”

Mathon, The Gold Lender – and Exhibiting Discretion

Mathon is, perhaps, the most unique character in Clason’s tale since he is the only one who teaches us about the accumulation, protection, and growth of gold from the bank’s point of view. Banks can be a terrific resource for financing projects and funding investments, and the lessons told by Mathon are filled with wisdom.

As Rodan, The Spearmaker, pays a visit to Mathon – Mathon’s first assumption is that Rodan must be in some sort of financial bind to be visiting the gold lender, but is thrilled to discover that it is advice which he seeks – not a bailout.

The lesson extends even further beyond what is exchanged through their dialog in that asking for advice from those wiser than yourself in times of abundance will always supercharge the earnings of principle.

Of course, being that Rodan has been wise with his finances, he is being bombarded from all sides (friends, family, and others) to loan out his money to those in need, and Mathon explains that;

“If you desire to help thy friend, do so in a way that will not bring thy friend’s burdens upon thyself.

… From each person to whom I lend, I do exact a token for my token chest, to remain there until the loan is repaid. When they repay, I give it back, but if they never repay, it will alway remind me of one who was not faithful to my confidence.

… The chest tells you, Rodan, that humans in the throes of great emotions are not safe risks for the gold lender.

… Life is hard and there will always be some who cannot adjust themselves to it.”

Mathon explains that some of the tokens in his chest will always remain there while others he must return very soon since some of those who borrow insist on repaying him as soon as possible. Just as trade and commerce are the lifeblood to any economy, Mathon paints a portrait of just how vital the gold lender is to ensure the sustainability of the system:

“Good merchants are an asset to our city and it profits me to aid them to keep trade moving that Babylon be prosperous.

… Gold, you see, Rodan, is the merchandise of the lender of money.

… Better a little caution than a great regret.”

His warning is that the entire civilization cannot afford for the gold lender to be careless with his business, for it is upon this industry that all others may stand.

Banzar, The Soldier – and Security Afforded by Wealth

Babylon braces itself for the ensuing attack of the Assyrians. Most of the city’s forces are elsewhere with the king as this is an unexpected strike, and the walls, themselves, must withstand the assault. While most of the townspeople lie quivering in fear, Banzar, “grim warrior of another day,” stands stoic with the experience of years as his comforting thought.

Women, children, and merchants all depend upon the strength in the walls for the continuance of their lives. Banzar has seen this sort of attack before. He is not worried, he does not fear, and he instills confidence in those around him to be strong:

“Be thou of good heart, thou mother that is, and is again to be, the walls of Babylon will protect you and your babes. They are high and strong.

… Be not afraid, little one … The walls of Babylon will protect you and mother and little brother and the baby. It was for the safety of such as you that the good Queen Semiramis built them over a hundred years ago. Never have they been broken through. Go back and tell your mother and little brother and the baby that the walls of Babylon will protect them and they need have no fear.”

Babylon had to be impenetrable since its plunder would be the bonanza of any successful army. In the words of Clason, “We cannot afford to be without adequate protection.”

Debasir, The Camel Trader – and Freedom in Discipline

We meet Debasir through one of his debtors, Tarkad. When Debasir asks if Tarkad has any money for him, the response is:

“I am sorry, very sorry, but this day I have neither the copper nor the silver with which I could repay. Tis because ill fortune does pursue me that I cannot pay.”

This just doesn’t sit well with Debasir, nor would it with any man of noble character. It is said that a man can make excuses, and a man can make money, but he cannot make both. Debasir takes Tarkad into an eating house, and over the course of his meal he gives testimony to his own experience with debts that once held him in bondage.

The story of Debasir is a metaphor for the mental and spiritual bondage created by holding debts. In his youth he enjoyed lavish meals, fine clothing, and luxuries that extended his payments beyond his means. Ultimately he was sold into slavery and only after years of hard work and the benevolence of his owner’s wife was he able to make his way back to Babylon, offering reparations to those he was still indebted to and turning his life around once and for all.

Debasir’s experience has made him very sensitive to the spiritual laws which govern a man’s soul. He teaches Tarkad of the bonds that hold down each man who would take on more debt than he can afford:

“Ill Fortune! Wouldst blame the gods for thine own weakness. Ill fortune pursues every man who thinks more of borrowing than of repaying.

… If a man has in himself the soul of a slave will he not become one no matter what his birth, even as water seeks its level?

… If thou contentedly let the years slip by and make no effort to repay, then thou hast but the contemptible soul of a slave. No man is otherwise who cannot respect himself and no man can respect himself who does not repay honest debts.

… Where the determination is, the way can be found.”

Sharru Nada, The Merchant Prince – and the Humble Spirit of Success

Sharru Nada finds himself traveling with the grandson, Hadan Gula, of an old friend, Arad Gula. Hadan is interestingly adorned with jewelry, accessories, and glamour, and almost represents the polar opposite of Nomasir. He is a privileged youth whose valuation of hard work is for naught. Sharru uses their long journey from Damascus as an opportunity to teach Hadan about his grandfather’s secret to success (even as a slave) – good, hard work.

Sharru shares with Hadan that he was once, himself, a slave. As Hadan expresses his disbelief, Sharru tells him that, “Any man may find himself a slave.” He tells his story of how he met Arad while they were both slaves and how they managed to avoid the harsh conditions of constructing the wall of Babylon – not by being flashy, but by industry. At the end of the day, he is thankful for the opportunity to be productive:

“Life is rich with many pleasures for men to enjoy … Each has its place. I am glad that work is not reserved for slaves. Were that the case I would be deprived of my greatest pleasure. Many things do I enjoy but nothing takes the place of work.”

Hadan obviously begins to understand the value of hard work. There is a saying that, “Idle hands are the Devil’s workshop,” and the lesson learned seems to hit him immediately:

” ‘I begin to see,’ Hadan Gula was speaking thoughtfully. ‘Work attracted his many friends who admired his industry and the success it brought. Work brought him the honors he enjoyed so much in damascus. Work brought him all those things I have approved. And I thought work was fit only for slaves.’

… ‘I have always hoped to be a man like my grandfather’ … ‘From this day forth, I shall use his key. I shall start humbly as he started, which befits my true station far better than jewels and fine robes.’

… So saying Hadan Gula pulled the jeweled baubles from his ears and the rings from his fingers. then reining his horse, he dropped back and rode with deep respect behind the leader of the caravan.”

It is one thing to be noticed – it is quite another to be respected.

Megiddo, The Slave – and the Hustle of a Noble Man

Megiddo is probably the most hard-working, resourceful, and motivated person in the book. Though he is a slave, he proves himself to be a master philosopher of the human spirit and a great teacher to those he meets. As the final hour approaches that will decide if he is to be subjected to a short life building the wall or not, he risks his own neck to inquire of Godoso, The Guard, about what he might do to gain favor with a slave buyer. As his own story unfolds standing next to Sharru Nada in the slave market:

“Megiddo felt that we would soon part. When no buyers were near, he talked to me earnestly to impress upon me how valuable work would be to me in the future: ‘Some men hate it. They make it their enemy. Better to treat it like a friend, make thyself like it. Don’t mind because it is hard. if thou thinkest about what a good house thou build, then who cares if the beams are heavy and it is far from the well to carry the water for the plaster. Promise me, boy, if thou get a master, work for him as hard as thou canst. If he does not appreciate all thou do, never mind. Remember, work, well-done, does good to the man who does it. It makes him a better man.’ He stopped as a burly farmer came to the enclosure and looked at us critically.

Megiddo asked about his farm and crops, soon convincing him that he would be a valuable man. After violent bargaining with the slave dealer, the farmer drew a fat purse from beneath his robe, and soon Megiddo had followed his new master out of sight.”

Megiddo has the greatest attitude one could hope to have coupled with a highly-motivated work ethic. Notice how he asks the farmer about his crops before the farmer asks them about their farming experience. He is exactly the type of worker that any successful business owner would love to have on the team and we can all learn a lot from this, and the many other lessons, that we learn from Megiddo.

Godoso, The Guard – and Putting Your Best Foot Forward

Godoso is described as a cut-throat kind of a dude. He has been employed at his station for a long time and has seen many slaves be either traded to buyers or sold to the city to work on the wall. He knows what it takes for buyers to want to buy, and on the last night he gives Megiddo this advice:

” ‘I tell something. Thou good fellow, give Godoso no trouble. Most times we go first to slave market. Listen now. When buyers come, tell ‘em you good orker, like to work hard for good master. Make ‘em want to buy. You not make ‘em buy, next day you carry brick. Mighty hard work.”

Godoso’s advice, though poorly worded, is both simple and profound. He reminds us that either way we will end up working in life, and better to do it on our own accord and with a cheerful, industrious spirit than under the whip and fist as a result of sluggish, lackluster motivation.

The Richest Man in Babylon Is One Of The Top 5 Greatest Books of All Time

This isn’t just because it is short, easy to read, inexpensive, entertaining, educational, and applicable in every way to life. It is written with a wonderful voice and told with a consistent intention. George Clason absolutely nails it and your life will improve ten fold after reading this book.