The Richest Man In Babylon
Historical Sketch Of Babylon
Babylon was located in a place which didn't have any forests, mines, or trade routes. The author said that Babylon was an outstanding example of man’s ability to achieve outstanding results by using the means which were available to him. Rulers and the progeny of Babylon were full of wisdom, entrepreneurship, and education.
The most astonishing feature of Babylon was its huge walls, which were used as a moat, protecting the city from invaders. In the world of finance, a moat refers to a business’s ability to maintain competitive advantages over its competitors. Many successful businesses have a moat around them. For example, Coca-Cola, as a company, the recipe of their drink is not known to anyone. It has a competitive advantage over other soft drinks companies because of their secret ingredient used in their recipe. It is very hard for a competitor to invade these kinds of companies, which was the case with the city of Babylon.