By 1998, when the United Nations convened a special General Assembly on drugs, there was already overwhelming evidence that the current approach to global drugs control had failed miserably, given the continuing rise in consumption and production. However, the evidence was ignored and no evaluation of what was wrong with current drug policy took place. Instead, as a New York Times editorial noted, unrealistic pledges were recycled, this time aiming at eliminating all drug production by the year 2008. In mid-April this year, the mid-term review of the goals and targets set by the special session on drugs is to take place in Vienna.
This is the story of America's most famous street, Wall Street. Exploring its development through the eighteenth and nineteenth centuries, Wachtel charts its dramatic transformation, offering a window on the past that helps us understand how it became the center of world finance that we see today.