This chapter examines the triumphs of research on drugs for mental disorders, which date back over 50 years, but have not been matched in recent times. The current practice of psychopharmacology, particularly the tendency toward overprescription, the use of polypharmacy, the failure to refer patients for psychotherapy, and the use of 15-minute visits to increase income, is evaluated critically. The limitations of three specific classes of drugs, namely antipsychotics, antidepressants, and mood stabilizers, are also reviewed.