Latin America's Pink Tide Crashes On The Rocks

Latin America's Pink Tide Crashes On The Rocks by Ryan McMaken, Mises Institute

Ten years ago, South America was witnessing the rise of what came to be known as the "pink tide." Characterized by an allegedly kinder and softer version of socialism than the "red" communism of Castro's Cuba, the pink tide had begun with the election of Hugo Chavez in Venezuela in 1998, followed by the election of Lula da Silva in Brazil in 2002, and followed by the rise of the Kirchners in Argentina in 2003. The tide continued to roll in with the election of Evo Morales in Bolivia in 2006, and Rafael Correa's election in Ecuador in 2007.

As these new leftist candidates gained...