39 books like Empire of Pain

Erik Larson is known for his masterful ability to combine meticulous research with rich prose to breathe life into history. This book, with intersecting narratives of a serial killer and a brilliant architect set at the 1893 World’s Fair in Chicago, painted such a living picture for me that I still felt stuck to the canvas even when I wasn’t reading.

I learned about astonishing true events and characters I barely knew existed. The contrast between the great inventors on the grand stage of the fair and the killer haunting its shadow was superbly done.

As everyone knows at this point, anything Michael Lewis writes will be enormous fun to read, while being about something really important—something he’ll make you care about even if you didn’t when you started the book.

In this case, the subject is people who bet on the direction of mortgages (and thus, house prices), and how those who bet on a huge plunge were right. This book has an amazing cast of characters, all richly drawn: some are smart, some are not so smart; some are excellent schmoozers, some can barely tolerate human interaction; some care a lot about money, some care more about being right, especially if everyone else is wrong.

Each book I've recommended cries out to be made into a movie. This one actually was.

Because I was a prosecutor on the Enron case, people often ask me what to read about it (or even to explain it to them!). At the time, we used to say that Enron was calculus to every other case’s algebra when it came to corporate financial fraud. Elkind and McLean (McLean had a lot to do with questioning Enron’s narrative before the company’s decline) have done the definitive job of explaining a very hard case in accessible style and detail. The truth is that accounting fraud is a very technical form of corporate fraud, sometimes painfully so. But, as I tell my students, the people who work at companies on these kinds of things are no smarter, and often no older, than my students. They just speak a different language. Don’t let that obfuscate matters. Learn the lingo and follow the money. Smartest Guys allows the general reader to… show more.

Civil lawsuits often get second-billing to criminal cases, but this book about a case of mass environmental contamination in a small town in Massachusetts one has all the traits of a legal thriller: an astonishing injustice, stunning twists and turns, and enormous consequences for all involved.

More than once, I gasped while reading this, and it’s one of the few books I ever re-read. This has since become a major-release movie (starring John Travolta), but the book is even better.

Mr. Carreyrou was the Wall Street Journal reporter who broke the story that eventually led to the downfall of Elizabeth Holmes, CEO of Theranos. At its peak, this company was worth over $9 billion. Today, Holmes and her former COO have been convicted of fraud and are serving time.

I like this book because it serves as a curriculum for how NOT to operate a biotech company. It shows that while belief in your vision is essential for all successful entrepreneurs, there is no place for secrecy and arrogance in the business world.

Unfortunately, the “Theranos” effect has led to a decline in investment in new medical technology and has had a negative effect on the value of clinical laboratories.

There is a partial myth, eagerly promoted by corporate interests and their lawyers, that federal prosecutors are frighteningly all-powerful and basically cannot be defeated. The veteran financial and legal reporter Eichenwald knows otherwise. The Informant, in contrast to the almost farcical (if enjoyable!) Stephen Soderbergh movie based on the book, lays out a textbook case of how prosecutors can blow an important case due to infighting, problems with unreliable informants, and clever high-priced defense lawyering that exploits every error that less-than-superb prosecutors might make. Here we have a tale of CEO-level officials at major global corporations caught on videotape flagrantly conspiring to violate antitrust laws and, in the end, almost no one ends up in prison. Eichenwald details the countless blunders by many Justice Department lawyers spread across several offices, and the clever maneuvering throughout by crack corporate defenders. He too, by the way, paints a fascinating portrait of… show more.

Partnoy, a distinguished law professor at Berkeley, is a brilliant chronicler of the people and products in modern financial markets. One could read any of his books and say they were among the best ones on the market and corporate chicanery. But I love his first book, in which he tells the tale of his brief time trading derivatives—back in the very early days of those now world-famous products—among the unsavory characters of a Wall Street trading floor. The story has been told by others since (Wolf of Wall Street, Big Short, etc.) but Partnoy may have done it first. And seeing that world through his young, brilliant, and impressionistic eyes is wonderful. His firm tried to block him from publishing the book, but he did it and has gone on to a magnificent academic career in which he continues to tell it like it is, understanding the… show more.

I’ve always had a fascination with America’s political capital, Washington, D.C.—the way it brings together some of the most brilliant and bombastic people in the universe, the way it serves as a petri dish of high-minded principles and low-brow appetites, the juxtaposition of glittering surface and seamy underside that made the early seasons of House of Cards so binge-able. In This Town, Mark Leibovich brings D.C. to life in a story that is at once stomach-churning, rage-inducing, and laugh-out-loud funny. If you’ve ever wondered what Washington is really like behind all the flag-waving and politicking, the talking points, and stage lights, this is the book for you.

Meier’s takedown of Purdue Pharma was ahead of its time. First published in 2003, Pain Killer was updated and re-published in 2018, Meier’s book is a hard-hitting account of the early causes of the opioid crisis. He shows how Purdue tried to hide information about OxyContin’s widespread abuse and the painkiller’s addictive nature. He also spotlights the Justice Department’s repeated failures to combat the drug epidemic. Meier is a former reporter at The New York Times. At one point, the Times’ editors yanked Meier off the opioid beat in response to complaints by Purdue Pharma lawyers. The complaints, of course, were unfounded, and editors later admitted they had been duped. I’m glad it didn’t stop Meier from writing and updating this landmark book.

For years, Dreamland has been my go-to book to understand the opioid crisis. Quinones, a former reporter with The Los Angeles Times, skillfully weaves the stories of a heroin drug syndicate based in Mexico—known as the “Xalisco Boys”—and the unfettered prescribing of pain pills in the U.S. The combination battered towns and cities. His book won the National Book Critics’ Circle Award for nonfiction.