The Richest Man in Babylon

“Money is the medium by which earthly success is measured. Money makes possible the enjoyment of the best the earth affords. Money is plentiful for those who understand the simple laws which govern its acquisition. Money is governed today by the same laws which controlled it when prosperous men thronged the streets of Babylon, six thousand years ago.”

Clason emphasizes the importance of money to people’s quality of life and calls it an important measure of success. By claiming that, in effect, anyone can become rich, Clason persuades the reader to invest their time in reading his book, no matter how little money they may have. Clason does not offer any concrete evidence to support his claim that finance and economics have remained unchanged since ancient Babylon, instead hooking the reader with the thought of “prosperous men” whose wisdom could still be relevant today (5).

“The Babylonians were clever financiers and traders. So far as we know, they were the original inventors of money as a means of exchange, of promissory notes and titles to property.”

Clason credits the Babylonians with inventing currency, rather than simply trading objects, as well as developing financial strategies people would also recognize today, such as loans and debts. By characterizing the Babylonians as “clever financiers,” Clason legitimizes their practices in the eyes of the reader, furthering his argument that their approach is a source of wisdom for us today.

“Fool! You pay to everyone but yourself. Dullard, you labor for others. A part of all you earn is yours to keep. It should not be less than a tenth no matter how little you earn. It can be much more as you can afford. Pay yourself first.”

Clason’s first piece of financial advice, spoken by Algamish to Arkad, is memorable and clear. Algamish emphasizes the irrationality of paying other professionals, such as clothing makers, but never keeping any income for yourself. By putting his advice in these terms, Clason makes the reader feel they are cheating themselves if they do not put money aside as savings.