The Match King

The book tells the story of Ivar Kreuger, a Swedish financier who rose to prominence in the 1920s by creating a matchstick monopoly and innovating financial products.

However, his success was marred by fraudulent practices, including shell companies, fudged accounting, and forgery.

When his empire collapsed in 1932, millions went bankrupt, leading to significant regulatory changes in the securities markets.

Frank Partnoy's narrative forces a re-evaluation of the wisdom of crowds, the invisible hand, and the free market, drawing parallels with modern financial crises.