Populism is on the rise in Latin America. Disenchantment with democracy and market reforms is growing. Rowdy street protests at November’s Summit of the Americas in Argentina and the landslide victory by Evo Morales in Bolivia’s presidential elections last month are its most recent expressions. Hugo Chávez, Venezuela’s president, routinely conjures up grand visions of a 21st-century socialism and a Latin America defiant of the US. The region’s bright future, which 15 years ago seemed to beckon, has receded.

While most Latin Americans oppose military coups, democratic institutions have not gained their confidence. According to the 2005 Latinobarómetro poll, solid majorities lack faith in political parties, legislatures and the courts. Just over one-quarter of those polled considered that the law applied to all citizens equally. Nor have the region’s economies delivered: Latin Americans are concerned about jobs, poverty and low wages. Nearly 60 per cent said they had had an unemployed adult living in their household in the past 12 months. Even so, after two years of strong economic growth, expectations are on the rise: 54 per cent believed their children would be better off than they are today.