For four decades, libertarians, civil rights activists and drug treatment experts have stood outside of the political mainstream in arguing that the war on drugs was sending too many people to prison, wasting too much money, wrenching apart too many families -- and all for little or no public benefit. They were always in the minority. But a sign of a new reality emerged: for the first time in four decades of polling, the Pew Research Center found that more than half of Americans support legalizing marijuana.
Law enforcement strategies have utterly failed to even maintain street prices of the key illicit substances. This figure shows that street drug prices fell by roughly a factor of five between in 1980 and 2008. Meanwhile the number of drug offenders locked up in our jails and prisons went from fewer than 42,000 in 1980 to a peak of 562,000 in 2007. We have remarkably little evidence that the billions of dollars spent on supply-side interdiction have much impact.
In July 1989, the leaders of the economic powers assembled at the G7 Paris summit decided to establish a Financial Action Task Force (FATF) to counter money laundering as an effective strategy against drug trafficking by criminal ‘cartels’. However, since the inception of the international anti-money laundering (AML) regime there is a growing awareness that the regime is not working as well as intended.