Coinciding with a wave of drug policy liberalization around the world, this book analyzes the experiences of Argentina, Portugal and Uruguay in their efforts at depenalization, decriminalization and legalization/regulation of recreational drugs. The authors present the successes and challenges of the approaches and their impacts on drug use, public health and security, debunking some of the myths surrounding flexible drug policies along the way. Contrasting the three liberalization cases with the criminalization approach of the US at federal level, the book offers policy recommendations and lessons learned from the historical trajectories and policy reforms in addressing drug consumption and its associated harms.