Singapore is set to become home to Southeast Asia’s first Library of Mistakes, a unique space dedicated to learning from the triumphs, and missteps, of global financial history. The initiative is made possible through a partnership between the National Library Board (NLB) and UK-based financial education company Didasko, with the library slated to open in the first half of 2027.
First launched in Edinburgh in 2014, and later expanded to India and Switzerland, the Library of Mistakes aims to reshape how financial literacy is taught. Rather than focusing solely on numbers and formulas, it offers real-world lessons rooted in history, helping investors, professionals, students, and the public better understand how past decisions have shaped today’s financial world.
Learning from the Past to Make Smarter Decisions
The Library of Mistakes in Singapore will feature a rich collection focused on local and regional financial history, supported by talks, lectures, and expert-led programmes. Visitors can expect deep dives into pivotal events such as the 1997 Asian Financial Crisis and high-profile scandals including the Wirecard fraud case in 2020.
These case studies aim to provide practical insight into financial behaviours, recurring weaknesses, and the human factors that drive economic cycles, encouraging visitors to learn from past errors before repeating them.
Among the titles expected to feature in the library’s collection (many of which are already available through NLB) include:
- The Asian Financial Crisis 1995–98: Birth of the Age of Debt – Russell Napier
- Fragile by Design: The Political Origins of Banking Crises and Scarce Credit – Charles W. Calomiris
- All the Devils Are Here: The Hidden History of the Financial Crisis – Bethany McLean
- The First Crash: Lessons from the South Sea Bubble – Richard Dale
- History of Greed: Financial Fraud from Tulip Mania to Bernie Madoff – David E.Y. Sarna
- Wheel, Deal, and Steal – Daniel Quinn Mills
- Why Nations Fail – Daron Acemoglu
- Boomerang: The Meltdown Tour – Michael Lewis
- Street Fighters: The Last 72 Hours of Bear Stearns – Kate Kelly
- Boombustology: Spotting Financial Bubbles Before They Burst – Vikram Mansharamani
A New Knowledge Hub for Financial Learning
Located on Level 7 of the National Library Building, the Library of Mistakes will sit alongside Launch, NLB’s Business Resource Centre. Together, they will form a comprehensive one-stop hub for entrepreneurs, professionals, freelancers, and anyone keen on expanding their financial knowledge.
Building a Community of Financially Savvy Learners
As preparations continue ahead of the 2027 opening, NLB and Didasko will collaborate with partners to grow the collection, co-curate programmes, and shape the library’s learning ecosystem.
