A Lesson in Multiplying Money from Antiquity

This article explores the value of drawing wisdom from the past, focusing on two key areas: the benefits of reading classic literature and the timeless financial principles from ancient Rome.

The Wisdom of Reading Old Books

The author argues for prioritizing books that have stood the test of time (at least a decade old) over new releases. He believes that if a book has remained relevant, it contains exceptional value. The key benefits of this approach include gaining a broader historical perspective, recognizing recurring patterns in human history and storytelling, finding timeless solutions to modern problems, and developing a more profound worldview by choosing the “best” over the “newest.”

Financial Lessons from Ancient Rome

The second part summarizes insights from the book “How to Make Money: An Ancient Guide to Wealth Management.” It reveals that many modern financial concepts were already present in ancient Rome. Key findings include:

• Wealth Foundation: Land and agriculture were the bedrock of wealth and social prestige.
• Timeless Principles: The need to multiply money to avoid losing its value (inflation) was well-understood, with land being a primary investment.
• Enduring Human Behavior: Issues like tax fraud, lucrative government contracts, and war profiteering are ancient phenomena.
• Social Dynamics: High earnings did not automatically grant high social status, but social mobility through valuable skills was possible.

Conclusion

The central takeaway is that the past offers a rich source of durable wisdom. By studying history and classic works, one can find effective, time-tested strategies for personal development and financial management that are often more valuable than fleeting modern trends.

Mentoring question

The author contrasts choosing ‘the best’ over ‘the newest’. In what area of your professional or personal life could you benefit from seeking wisdom from time-tested sources rather than chasing the latest trend?

Source: https://52notatki.substack.com/p/lekcja-pomnazania-pieniedzy-ze-starozytnosci