Droughts of the future are likely to be more frequent, severe, and longer lasting than they have been in recent decades, but drought risks will be lower if greenhouse gas emissions are cut aggressively. This review presents a synopsis of the tools required for understanding the statistics, physics, and dynamics of drought and its causes in a historical context. Although these tools have been applied most extensively in the United States, Europe, and the Amazon region, they have not been as widely used in other drought-prone regions throughout the rest of the world, presenting opportunities for future research. Water resource managers, early career scientists, and veteran drought researchers will likely see opportunities to improve our understanding of drought.