The likely impact of Maduro’s seizure on the global cocaine trade

Even if there was real disintegration in Venezuela in terms of political unrest or crackdowns, or much stronger law enforcement action, there would be no difference on a global scale...The global cocaine market is so huge, so agile, so adaptive, that none of that is going to disrupt supply in a meaningful way...There's a bigger question around enforcement as a strategy. It’s naive and against all previous evidence that enforcement and disruption can achieve much on a large scale. There are more fundamental questions about prohibition. We have decades of evidence that it’s not working, so we need to have a proper conversation.”