Yes, it is. 'The Richest Man in Babylon' is based on certain financial principles and wisdom that were prevalent in ancient Babylon. These principles are presented in the form of fictional stories set in Babylon but hold real - world applicability.
Yes. The book draws on the idea of the financial practices and wealth - building strategies that could have been in place in ancient Babylon. It uses these historical concepts as a backdrop to create a set of fictional yet educational stories. The wisdom about saving, investing, and making money that it imparts is based on sound financial logic which was likely relevant in Babylon's economy. So, in a sense, it's based on a 'true' financial story of that era.