Title and author:
The Smartest Man in Babylon by George S. Clason
Content Synopsis:
During the 1920s, George S. Clason wrote a series of pamphlets on how to achieve financial security and success. Financial institutions gave them away to customers. In 1926 Clason brought them all together in a book called The richest man in Babylon.
The book is written as a fable about a man in ancient Babylon who is failing financially and learns valuable lessons from a wise man who has mastered the use of money. He tells the compelling story of the fighter Bansir who builds chariots for a living but never has riches to show for it, and how he learns lessons from the successful and wise Arkad, the richest man in Babylon. As he turns the story around, he teaches these key principles to the reader.
In addition to identifying these key principles, it explains how they are used to build wealth and financial security. The lessons would have been valid in ancient Babylon, were equally valid in 1920s America, and remain equally valid today.
He identifies seven key principles for lasting financial success:
1. Start to fatten up your bag.
2. Control your expenses.
3. Make your gold multiply.
4. Protect your treasures from loss.
5. Make your home a profitable investment.
6. Secure a future income.
7. Increase your ability to earn.
It also examines common failures that lead to wealth loss and failure. It teaches how to avoid these failures and overcome the weaknesses that lead to so much loss and suffering.
By writing a fable of an ancient civilization, Clason brings us ancient wisdom that can be used today.
Utility:
This book is immensely helpful to anyone who wants to master the fundamental principles of creating, maintaining, and growing wealth.
Readability/Write Quality:
This book is very readable. It’s like reading a little novel.
Author’s Notes:
George Samuel Clason (November 7, 1874 – April 7, 1957), also known as George S. Clason, was born in Louisiana, Missouri, and died in Napa, California.
George Clason is best known for writing a series of informative pamphlets on how to be thrifty and how to achieve financial success. He began writing the pamphlets in 1926, using parables that were set in ancient Babylon. Banks and insurance companies began to distribute the parables and the most famous ones were collected in the book The Richest Man in Babylon.
Three great ideas you can use:
1. Learn and apply Clason’s seven principles of financial wisdom.
2. You must take control of your finances. It requires daily effort to do this. It will be paid handsomely.
3. Living below your means will result in the ability to increase your means significantly.
Disclosure Information:
The Smartest Man in Babylon by George S. Clason
Copyright 1924-1955 by George S. Clason
Published by Penguin Books, USA.
